Latest news with #KenyaInvestmentAuthority
The Star
8 hours ago
- Business
- The Star
East African fashion life show opens in Kenya to boost textiles, apparels trade
NAIROBI, June 20 (Xinhua) -- The second edition of East Africa (Kenya) Fashion Life Show was officially opened on Friday in Nairobi, the Kenyan capital, drawing over 70 exhibitors from Kenya and China. Chinese enterprises are exhibiting textiles, packaging material, baby toys, personal care products and wigs, home decor, and gift wrappers during the expo that runs from Thursday to Saturday. Yin Maolin, Party chief of Mudan District in Heze City, east China's Shandong Province, led a high-level Chinese delegation to attend the expo that will highlight the potential of East Africa as a hub for the fashion, sustainable textile, and apparel sector. According to Yin, the fashion show offers a platform for deepening economic partnership between China and Kenya, focusing on trade in high-quality manufactured products and jointly establishing seamless supply chains. Pius Rotich, general manager for investment promotion and business development services at Kenya Investment Authority, said the government has created a conducive policy and regulatory environment to spur the growth of the textile and apparel sector. Kenya is committed to a partnership with Chinese investors in a bid to manufacture high-quality leather products for export in the African market and beyond, boosting foreign exchange earnings and job creation, said Rotich. Gao Wei, managing director of Afripeak Expo Kenya Ltd., co-organizer of the 2025 East African Fashion Show, said this year's edition had grown bigger in terms of the number of visitors and exhibitors, reaffirming dynamism in the region's textile and apparel sectors. The fashion expo, according to Gao, will run under the theme of "Inspire Friendship, Connect World," bringing together Chinese and Kenyan enterprises dealing with household accessories, cosmetics, and electronics under one roof. Gao said the expo will also create a platform for Chinese business executives to network with their Kenyan counterparts, explore two-way trade in leather products. Hundreds of Kenyan visitors thronged to the East Africa Fashion expo, with the majority acknowledging their appreciation of Chinese-made products, including wigs, cosmetics and fabrics. Waceke Mwaura, a female entrepreneur, said that she was impressed by the wig showcased by Chinese exhibitors, adding that its high quality has made it popular among local clients. Mwaura said she has been importing hair from China to supply to local retailers and beauty parlors, even as she scouts for distributorship arrangements with Chinese manufacturers. Paul Munyua, a middle-aged pedicurist, said that he visited the expo to gain insight into new beauty products in the local market imported from China that are affordable to his clients.
Zawya
24-04-2025
- Business
- Zawya
Kenya's Ruto dangles tax breaks, Agoa to Chinese investors
President William Ruto is dangling a series of incentives for Chinese investors, including tax holidays, ease of repatriating profits, skilled workforce and easier immigration rules. At a meeting with the Chinese business community in Beijing on Tuesday, the President said Kenya's membership in African regional economic blocs, trade agreements such as the African Growth Opportunity Act (Agoa) with the US, and the Economic Partnership Agreement with the European Union could help Chinese exporters reach these markets with privileges similar to Kenyans.'Kenya is open for business,' President Ruto said.'We have every reason for you to invest in our country and I welcome you to come so that we can build, we can grow and witness the making of Africa's next great success story, and we will do this together.'Kenya has also built a big footprint of markets around not [only] just our region, but also globally... You may also wish to know that, under the Agoa arrangement, we have duty-free, quota-free access to the American market, and all this market access infrastructure is available to you in Kenya.'Agoa has helped Kenyan producers of textiles and foreign investors who produce apparael locally to export to the US under certain privileges. But the deal is now facing a bleak future after US President Donald Trump imposed a flat tare tariff of 10 percent on a number of countries that profited from Agoa, including Kenya. Agoa is set to expire in September this year, unless Washington extends it, or replaces it. At the investor roundtable, President Ruto also sold Kenya's regional positioning, touting Nairobi as a gateway to neighbouring markets.'Because of the network of market access that we have built, you can access the East African Community market and the Comesa market, a community that has 26 countries and a population of 730 million people,' he said. Seven Chinese firms signed letters of intent with the Kenya Investment Authority to invest in various sectors of the economy if certain conditions are met. The companies could pump in $500 million if they sign investment agreements. And a lot will depend on what Kenya does to convince them. Nairobi says it will target the Chinese market more, promising incentives on taxes, immigration and secure financial transactions. Starting June, Kenya will conduct a five-province marketing campaign in China, seeking to sell itself as a better investment destination. The actual regions of China are to be announced later, but one of the cities is Changsha in Hunan Province, where Kenya intends to learn and attract investors in running city transportation systems and related smart technology. In early 2026, Kenya will invite Chinese investors to Nairobi 'to showcase the opportunities here, and you can see for yourselves first-hand what these investment opportunities look like,' President Ruto said. President Ruto is also using the visit to seek new funding for his pet projects such as housing, ICT and universal healthcare. © Copyright 2022 Nation Media Group. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
19-03-2025
- Business
- Zawya
FIndia Africa Entrepreneurship and Investment Summit returns for its fifth edition in Nairobi
The premier platform for fostering India-Africa collaborations will be held on 17–18 July 2025, focusing on key sectors including energy, agriculture, healthcare, artificial intelligence (AI), critical minerals, and education. Connecting Africa's $3.5 trillion frontier markets with India's $4 trillion economy to boost investment, trade and joint ventures. Mumbai: India Africa Business Network (IABN) is pleased to announce the fifth edition of the India Africa Entrepreneurship and Investment Summit, hosted in Nairobi, Kenya - East Africa's economic hub and international centre, at the time of the Great Wildebeest Migration, 17–18 July 2025. This invite-only exclusive summit hosted in collaboration with Kenya Investment Authority, is designed to create opportunities for Indian and African entrepreneurs, enabling them to learn, share, and foster entrepreneurial collaborations, particularly for those seeking joint ventures and B2B connections.. The fifth edition of India Africa Entrepreneurship and Investment Forum wishes to build upon the remarkable success of its previous four editions which were hosted three times in Mauritius and once in Kenya. Pre-eminent entrepreneurs, thought-leaders, policy-makers, and investors from both Africa and India will discuss opportunities and challenges of investing in each other's geographies and connecting with potential investors and entrepreneurs investing or co-creating joint ventures and market access arrangements at the same time. Emphasising his enthusiasm for the summit, Baljinder Sharma, Convenor, India Africa Business Network, states 'Over the last four years, the summit has been a platform for building on the historical and economic relationship between India and Africa, this year we wish to delve deeper into collaborations in different sectors such as energy, agriculture, healthcare, AI, critical minerals, and education. This will benefit both the economies.' With participation from experts across different sectors, the fifth edition promises to be a significant platform for regional as well as international entrepreneurs. The fifth edition includes notable advisory members including Sushil Jiwarajka, Chairman, Artheon Group of Companies; Busisa Moyo, Chief Executive Officer, United Refineries; Nirmala Sankaran, Co-Founder, HeyMath; Pradeep Gupta, Chairman, CyberMedia Group, Padmaja Ruparel, Founding Partner, IAN Fund; Tomi Davies, CIC, TVC Labs; Satya Narayanan R, Chairman and Executive Director on the Board, CL Educate; Zachariah George, Managing Partner, Launch Africa Ventures; Anirudh Damani, Managing Partner, Artha Venture Fund; Ramesh Awtaney, Founder and Chairman, ISON Group; and several others. Since its inception in 2018, IABN has emerged as a catalyst for creating new collaborations between Indian and African enterprises where both large established enterprises and startups can find space for discussions and demonstrations of their products and services. The fifth edition of India Africa Entrepreneurship and Investment Summit will further enable IABN's cause and create opportunities for seasoned experts and budding entrepreneurs alike. About India Africa Business Network India Africa Business Network (IABN) provides a space for people to connect, share, and learn from one another by cultivating meaningful relationships and opportunities to collaborate in the following sectors. Energy/Alternative Fuels Agriculture/Biotech Healthcare/Pharmaceuticals/Medical Devices Education/Skills Critical Minerals/Sustainable Mining Smart Infrastructure Artificial intelligence/Robotics BPO/Competency Centres Manufacturing Excellence and Logistics Electric Vehicles and Smart Mobility
Zawya
30-01-2025
- Business
- Zawya
Egypt, Kenya sign 12 agreements to strengthen bilateral ties
Egypt's President Abdel Fattah El-Sisi and Kenyan counterpart William Ruto have signed 12 joint agreements to boost bilateral ties and expand cooperation in various sectors, according to a statement. These memoranda of understanding (MoUs) will solidify trade, investment, education and research, and technological exchanges, among others, untapping key opportunities for the two nations and their citizens. The agreements included political consultations, diplomatic training in capacity building in foreign service, and investment cooperation between the Kenya Investment Authority and the General Authority for Investment and Free Zones (GAFI) of Egypt. Other memoranda covered maritime partnerships between the Lamu Port Authority and the Alexandria Port Authority, as well as the Red Sea Port Authority and the Kenya Ports Authority. The two nations will also cooperate on youth empowerment, higher education and scientific research, telecommunication and IT, space, governance and sustainable development, and housing, construction and urban Development. Speaking during a joint press briefing at the Egyptian Presidency Headquarters in Cairo, Ruto noted that discussions are at an advanced stage to finalize critical agreements in customs cooperation, security, tourism, mining, blue economy, sports development, and the Grant Water Agreement. 'I trust that we shall swiftly conclude the pending matters and have the MoUs come into force as soon as practicable,' he said. Ruto also stressed the need for a Joint Business Council to improve bilateral ties and explore new trade and investment opportunities in sectors of mutual interest. 'We also discussed measures to eliminate trade barriers, streamline regulations, and simplify Customs procedures to create a more predictable and efficient trading environment for our business communities,' he said. On his part, El-Sisi indicated that the Egyptian private sector benefitted from investments in agriculture infrastructure, health, and irrigation, among others. 'We also received the latest updates from the River Nile and agreed that no part should be hurt as far as the use of the water is concerned. We will have an honest conversation over the mutual benefit of our people,' he added. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
