News

Moving counties from frontier investment market to emerging investment market: Strategic shift from performing only citizen service delivery to positioning businesses to competitively compete in the counties, in the country and the in the region. 

Officials of The Ministry of Trade Investment and Industry (MITI) were present at a side panel in the ongoing 10th Devolution Conference.

Mr. Abubakar Hassan Principal Secretary (PS), State Department of Investment Promotion spoke of the milestones achieved in positining Kenya as an investment hub. He reiterated of the employment potential existing in the county aggregation program.

In a promising move towards sustainable energy solutions, AAMP Power Kenya and Southern Energy South Africa are poised to lead a transformative investment in hydro power projects along the Athi River. The proposed investment, totaling 22 million US Dollars, aims to establish two hydro power facilities in Kenya - a 4.45 MW project in Machakos County and a 2.45 MW project in Makueni County.

Today afternoon, The Cabinet Secretary, Ministry of Investments, Trade and Industry, Hon. Moses K. Kuria presided a meeting between the World Bank and the  Board of Kenya Development Corporation (KDC) where they discussed, among other things, how to fast track ongoing world bank projects in the country aimed at deepening and broadening access to capital and credit. The World Bank has partnered with KDC to scale up existing domestic capital and credit by offering over KES 20b through four projects targeting pastoralists, jobs transformation and entrepreneurship.

In a significant development, SC Johnson, a leading global consumer goods company, has initiated the pilot production of new spatial repellents in Kenya. This innovative solution aims to combat the prevalence of malaria in the country and the broader Great Lakes region. With an initial distribution of one million units, the company foresees this number growing to an impressive 20 million pieces annually.

The quest to make Mombasa the business gateway to East Africa received a major boost today following a successful port users stakeholder meeting chaired by H.E. the President Dr. William Ruto.

Various stakeholders, including shippers, transporters, exporters, importers, Parliamentary leadership, Kenya Government agencies, Uganda Government representatives and representatives from other neighbouring countries had a chance to discuss in-depth issues affecting trade and Impediments to seamless port operations.

The Kenya Shipyards is currently undergoing a significant transformation with the aim of enhancing its capacity to support the maritime industry sustainably and foster the growth of the Blue Economy. This ambitious initiative is set to enable the government to explore untapped trade and investment opportunities in ocean resources, thereby contributing to the economic growth of the country.

The recent launch of the Vijana 2 Invest masterclass in Mombasa has garnered excitement from Abubakar Hassan, the PS for Investment Promotion. The event marks a significant step in recognizing the importance of empowering the youth for a promising future. Under the initiative, young individuals are being encouraged to transition from being mere earners of wages to becoming owners of capital, fostering a culture of entrepreneurship and innovation.

PS Investment, Abubakar Hassan, recently highlighted the significance of an "Aftercare program" as a key strategy to retain investors in Kenya. The program aims to ensure a conducive investment climate and business environment, facilitating the growth and sustainability of businesses in the country.

In an impressive display of commitment to development and progress, President William Ruto recently took significant steps to boost the economy and empower communities in Kenya. Among the key initiatives, the President operationalized the county aggregation and industrial park, a move aimed at fostering economic growth and industrialization in the region.

Furthermore, his Excellency also inaugurated the County Commissioner's office, which is expected to enhance governance and administrative efficiency at the local level.