Kenyans business people seal multi-billion shilling deals in China

By JEVANS NYABIAGE

Kenyan business people have inked several deals in China worth billions of shillings.

Businessman Chris Kirubi, Suraya Group, fertiliser firm Mea Ltd and Beth International were among firms that clinched deals in the just completed tour of China.

“I led a team of 69 traders from several sectors with several of them clinching deals,” said Kenya National Chamber of Commerce and Industry National Chairman Mr Kiprono Kittony.  The group was in China as part of the team of local investors who accompanied President Uhuru on his maiden State visit to Beijing.

During the trip, Mea Fertiliser Ltd entered into talks with two Chinese companies for the construction of a fertiliser plant in Kenya and a partnership to purchase and import farm inputs. Mea Ltd management met their counterparts from China National Chemical Engineering Company (CNCEC) and SINOCHEM, a fertiliser trading company in China.

The trio explored possibilities of a partnership to establish a nitrogenous fertiliser factory in Kenya and a separate deal on the importation of fertilisers. Mea Ltd Executive Director Titus Gitau said the firm would soon sign a memorandum of understanding to build the nitrate plant with CNCEC after the completion of the NPK granulation in 2014.

Beth International, associated with nominated Senator Beth Mugo also entered into talks with a Chinese firm for possible business deal to trade in gemstones. Industrialist Chris Kirubi and property firm Suraya Group also entered into negotiations with China Africa Development Fund to fund property projects in Kenya.  “We are still in talks. We anticipate to partner with the fund to develop huge projects in Kenya,” said Kirubi.

Trade missions

Kittony said the timelines would vary depending on the line of funding. “The Chamber intends to conduct trade missions on a monthly basis to boost outbound trade,” he said.

He said an MOU was signed between the Kenya National Chamber of Commerce and Industry and China Chamber of Manufacturing and Electronics.  “We appealed to them to take a more inclusive approach to investment in Kenya,” he added. Nairobi County Governor Evans Kidero received pledges from Chinese investors worth more than Sh80 billion, which will be used to turn around the county’s infrastructural development.

Kidero said he held a meeting with the President and Executive Chairman of the China Investment Bank, on the prospects of funding the urban re-generation of the Eastlands area.

“The bank is more than willing to invest in Nairobi County and its Chairman Hu Huai Bang will soon be visiting for us to fine tune the loose ends of the deal,” Kidero said.

During the trip, which is seen as the government’s push for the ‘look East’ strategy, President Uhuru secured Sh425 billion for the standard gauge railway, which will be implemented over five years.