Chinese investors eye Kenya trade with new association

Chinese investors are eyeing business deals in Kenya with the launch of the Africa Guangdong Business Association.

The lobby opened its Nairobi chapter on Friday to help grow trade between Guangdong Province and Kenya.

Its chairman, Zhu Layi, said the experience and lessons of China’s 40 years of reform and trade will provide a reference point for Africa’s development.

“The established branches in Africa will focus on offering service and guarantee for Chinese enterprises that conduct their business in Africa,” he said.

The association was established under a proposal made by African diplomats, the Foreign Affairs Office of Guangdong Province, China Council for the Promotion of International Trade, Guangdong Committee and Guangdong New South Group.

At the event, Industry, Trade and Co-operatives Cabinet Secretary Peter Munya revealed that Mr Zhu, who is also a founding member of the Africa Economic Zones (AEZ) in partnership with New South Group and DL Group, will develop another special economic zone in Kenya.

The AEZ plans to invest $2 billion (Sh200 billion) for the nine-kilometre industrial park that is expected to create over 40,000 jobs.

“Through mutual partnerships and collaborations, we shall have a common development agenda of creating jobs,” said Mr Munya.

Industrialisation Principal Secretary Betty Maina said the ministry will collaborate with the province of Guangdong to enhance trade opportunities.