Published On: Fri, May 12th, 2017

President Kenyatta reassures UK’s investors , urges them to make Nairobi their regional Hub

Kenya’s President Kenyatta in the sidelines of the Somalia Conference hosted by the UK Government took time to reassure key firms who have invested billions into Kenya’s economy of his Government’s commitment to investment protection.

The president highlighted Kenya’s milestone in creating investor friendly environment and his vision to position Kenya’s capital Nairobi as a regional investment hub.

To further promote Kenya’s Investment competitiveness give investor confidence of the nation’s commitment to resolving commercial and Investment disputes , the president noted his Government’s work in the setting up of the Nairobi International Arbitration centre and the continuing work by the Judiciary and other stakeholders to building Kenya’s International Arbitration capacity.

To co -0rdinate investments between the national and county Government and avoid confusion for investors, the president said he would create an investment co-ordination agency in his office to ensure flawless ,hassle free process for Investors.

Amongst the firms present at the meeting were UK ‘s Equinox Capital working on the 35 megawatt Hyacinth Energy plant in Homabay.

“We are making progress on our Homa Bay plant and are nearing launch. We would request you to come to Homa Bay for this event,” Lord Barker, a UK peer and representative of Equinox Energy Capital told the President.

Mr Nadeem Ahmed CEO of Kericho Gold and Typhoo teas mentioned of his $25 million investment project in value addition  on a 25-acre plot in Miritini, Mombasa County, which was likely to employ up to 10,000 youth.

Simon Poole a partner at Helios LLP  mentioned that his firm stake at Telcom Kenya and called on the President to ensure level playing field for all telcos sighting a monopoly by Vodafone/Safaricom.

Energy Cabinet Secretary was taken to task to explain what was required to ensure progress of the lake Turkana Wind  Power project who were represented at the meeting by Bob Chestnut of Aldwych , part of the consortium responsible for the project.

CDC representative in the meeting called on the Government to reconsider the banking act which came to play last year as it has some impact on UK investors who have invested in Kenya’s Banking Sector.

President Kenyatta responded to questions from the investors in a 75-minute interactive session, saying his priority was creating a conducive environment for the businesses to thrive, with the singular goal of creating thousands of jobs for Kenyans.

President Kenyatta was accompanied to the forum by Cabinet Secretaries Amb. Amina Mohamed (Foreign Affairs) and Charles Keter (Energy and Petroleum), as well as Attorney-General Professor Githu Muigai. He asked Keter and Muigai to work closely with investors to resolve any outstanding issues.

 

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President Kenyatta reassures UK’s investors , urges them to make Nairobi their regional Hub
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