Kuria Ropes Ksh60 Billion Investor to Kenya

by Kioko Nyamasyo on Thursday, 27 July 2023 – 7:13 am

Trade Cabinet Secretary Moses Kuria speaking during a meeting with Saudi Arabia investors on July 12, 2023.

Trade Cabinet Secretary Moses Kuria on Thursday, July 27, announced that Kenya has received an investor who is going to pump Ksh60 billion into the Dongo Kundu Special Economic Zone.

Speaking in Mombasa, Kuria remarked that Pan African Industrial Spaces Developer Arise (ARISE IIP) has agreed to invest in the Mombasa Special Economic Zone which will open the region for more investments.

The CS noted that Kenya was on track to make the Dongo Kundu Special Economic Zone a key logistics hub in Africa following the commitment from the investor.

"With the expected completion of the Mombasa Airport-Dongo Kundu By-Pass by Christmas Day this year, this will ease the burden on Likoni Ferry (And use of crossing boats) and draw even more investors to the Dongo Kundu Special Economic Zone," Kuria said in a statement.

President William Ruto (left) and business tycoon Rostam Aziz unveil a plaque at Dongo Kundu in Mombasa on February 24, 2023.

ARISE IIP is one of the largest industrial investors in Africa with investments in multiple countries spanning different sectors including finance, design and operating industries.

The company is present in Gabon with the Gabon Special Economic Zone (GSEZ), in Benin with the Glo-Djigbé Industrial Zone (GDIZ) and in Togo with the Adétikopé Industrial Platform (PIA).

This was the second investor that Kenya has secured for the Dongo Kundu Special Economic Zone.

On February 24, 2023, President William Ruto announced that Taifa Gas was going to set up a plant with an investment of Ksh18 billion.

The Tanzanian-based company is building a refilling plant for liquefied petroleum gas (LPG) in Mombasa with a 30,000 metric tonnes storage capacity.

Kuria noted that the country is ahead of schedule in developing the infrastructure and inviting investors to operationalise the economic zone.

"Earlier this year, President William Ruto presided over the groundbreaking for the first investor, Taifa Gas, 3 years ahead of the previous target of 2026," Kuria stated.

The Dongo Kundu Special Economic Zone is one of the flagship projects for Vision 2030. The Zone is set to improve Kenya’s competitiveness as an investment destination through infrastructure provision, facilitation of the investment process for both local and foreign investors, value chain integration and expanded market access for goods and services in the region.

Trade CS Moses Kuria (left) meeting members of Kenya Vehicle Manufacturers Association (KVMA) at the Association of Vehicle Assemblers of Kenya (AVA) plant in Mombasa on July 21, 2023.