Kenya plans to put more than Sh128 billion into developing the Dongo Kundu and Naivasha special economic zones. This investment comes through an agreement between the African Export-Import Bank, the Kenya Ports Authority, and the Special Economic Zone Authority. The Sh128.5 billion project aims to strengthen the nation's industrial capacity and boost manufacturing for export markets. President William Ruto attended the signing event in Mombasa along with several cabinet members.
The major investment seeks to establish Kenya as a regional manufacturing center and export leader. Officials expect the project will generate approximately 40,000 jobs at Dongo Kundu and 100,000 positions at the Naivasha location. Afreximbank President Professor Benedict Oramah noted Kenya's commitment to industrial progress during the ceremony. He confirmed the bank would partner with the government to fund both economic zones with approximately $1 billion under the Bottom Up Economic Transformation Agenda.
Professor Oramah mentioned that despite Africa's abundant natural resources, the continent has struggled to create lasting prosperity for its citizens. He explained that for many years, African nations watched as external parties benefited from their resources. This left African countries dependent on aid and loans instead of developing their economic independence. He stated these economic zones represent Kenya taking significant action to change this situation.
Transport and Roads Cabinet Secretary Davis Chirchir described how the project will drive industrialization and support the ministry's Integrated Transport Policy goals. He emphasized that the agreement signifies more than a formal document—it demonstrates the government's dedication to improving transportation infrastructure. Chirchir added that the Dongo Kundu SEZ reflects the administration's focus on building a stronger economy for all Kenyans.
Investment, Trade, and Industry Cabinet Secretary Lee Kinyanjui encouraged both local and international businesses to utilize the opportunities provided by the government. He specifically mentioned tax incentives available for companies investing in the special economic zones. Senate Speaker Amason Kingi stated these zones will help Kenya establish a stronger presence in international export markets. Kingi described the agreement as an unprecedented achievement for the country.
Mining Cabinet Secretary Hassan Joho explained that the Dongo Kundu SEZ will create new economic opportunities and provide employment for many citizens. He expressed appreciation to President Ruto for bringing the project to reality after it remained just a concept for many years. Sports Cabinet Secretary Salim Mvurya discussed the importance of developing appropriate skills among young people to match the requirements of businesses operating in these economic zones. He also recognized the Kenya Ports Authority for completing compensation for people affected by the Dongo Kundu project.
The major investment seeks to establish Kenya as a regional manufacturing center and export leader. Officials expect the project will generate approximately 40,000 jobs at Dongo Kundu and 100,000 positions at the Naivasha location. Afreximbank President Professor Benedict Oramah noted Kenya's commitment to industrial progress during the ceremony. He confirmed the bank would partner with the government to fund both economic zones with approximately $1 billion under the Bottom Up Economic Transformation Agenda.
Professor Oramah mentioned that despite Africa's abundant natural resources, the continent has struggled to create lasting prosperity for its citizens. He explained that for many years, African nations watched as external parties benefited from their resources. This left African countries dependent on aid and loans instead of developing their economic independence. He stated these economic zones represent Kenya taking significant action to change this situation.
Transport and Roads Cabinet Secretary Davis Chirchir described how the project will drive industrialization and support the ministry's Integrated Transport Policy goals. He emphasized that the agreement signifies more than a formal document—it demonstrates the government's dedication to improving transportation infrastructure. Chirchir added that the Dongo Kundu SEZ reflects the administration's focus on building a stronger economy for all Kenyans.
Investment, Trade, and Industry Cabinet Secretary Lee Kinyanjui encouraged both local and international businesses to utilize the opportunities provided by the government. He specifically mentioned tax incentives available for companies investing in the special economic zones. Senate Speaker Amason Kingi stated these zones will help Kenya establish a stronger presence in international export markets. Kingi described the agreement as an unprecedented achievement for the country.
Mining Cabinet Secretary Hassan Joho explained that the Dongo Kundu SEZ will create new economic opportunities and provide employment for many citizens. He expressed appreciation to President Ruto for bringing the project to reality after it remained just a concept for many years. Sports Cabinet Secretary Salim Mvurya discussed the importance of developing appropriate skills among young people to match the requirements of businesses operating in these economic zones. He also recognized the Kenya Ports Authority for completing compensation for people affected by the Dongo Kundu project.
