More than 10,000 companies from China are investing in Africa and particularly in Kenya, which is a major hub for China products.
Speaking during the China-Africa-UK Investment Conference in Nairobi today,Chief Executive Officer( CEO) Kenya Investment Authority (KenInvest), Dr Moses Ikiara said that Kenya is the leading exporter to China in the world in terms of leather and textile industry as well as food products.
He said that opportunities for investment are available in all sectors of the economy ranging from small, medium and mega projects in the country.
“Partnership for Investment and Growth in Africa (PIGA) project facilitates investment in the agro-processing and light manufacturing sectors in Ethiopia, Kenya, Mozambique, and Zambia,” noted Ikiara.
He mentioned that with the plastic-ban in Kenya, the paper industry is under pressure to fill in the gap as he challenged small enterprises (SMEs) to merge and aid to get more products from paper.
The conference currently taking place at the Kenyatta International Convention Centre (KICC) is expected to provide a platform for large and medium sized Chinese corporations looking for new opportunities in Africa and at the same time provide participants with an opportunity to network and form investors’ linkages.
The chairperson, Office for Asia and the Pacific International Trade Centre( ITC), Xuejun Jian said that the conference is aimed at increasing awareness of potential Chinese investors on investment climates and opportunities in Ethiopia, Kenya, Mozambique and Zambia.
He stated that the conference will enable network building between investment promotion agencies in these countries and Chinese investors.
The Country Director, Department for International Development (DFID) Kenya, Pete Vowels said that the partnership aims at promoting the establishment of direct contacts among Chinese Investors and the four countries involved.
He further noted that it is essential for the exhibitors and investors to enhance their understanding on investment climates and opportunities in Ethiopia, Kenya, Mozambique and Zambia. The conference has brought together businessmen from China, Kenya, Mozambique, Zambia and Ethiopia.