Kenya seeks to attract Chinese investment in green industrial park

Published: July 22,2024

Kenya is keen to attract Chinese investors to set up operations in its green industrial park located in Naivasha, about 90 km northwest of the Kenyan capital of Nairobi, a government official said on Monday.

Abubakar Hassan Abubakar, principal secretary in the Ministry of Investments, Trade and Industry, told Xinhua in Nairobi that the industrial park sits on the country’s geothermal fields, a sustainable and stable source of power.

“We have a pipeline of Chinese investors who have expressed interest in establishing factories that will be powered by renewable sources of energy,” Abubakarsaid on the sidelines of the launch of Stanbic Bank’s sustainability report 2023.

He called for Chinese investment in Kenya’s green economy sectors, including solar and recycling industries.

The green park will help Kenya export green products and boost its foreign exchange earnings, Abubakarsaid.

He said Kenya has launched a 40-million-U.S.-dollar fund to help small and medium enterprises in the green economy, adding that the country has set a target of expanding the size of the fund to 200 million dollars through partnership with international development institutions.

Xinhua