Over 170 million euros are the funds that six local and foreign companies plan to invest in the special economic zone (Sez) of Naivasha, in Nakuru county, Kenya, after the government granted them the license. According to Trade Cabinet Secretary Rebecca Miano, the move will create job opportunities for over 3,000 Kenyans, with the number expected to rise to 100,000.
“We are very excited that six companies have obtained certificates and are already getting started. We have one that will produce electric vehicles, we have one that will produce cold storage. We have a logistics company and another one that will produce transmission accessories,” he said, while to each company – including Jumbo Aaa Holding Sez Ltd, Jafro SEZ Ltd, Accurate Steel Mill Sez Ltd, Africa Global Logistics (Agl) Sez Kenya Limited, Tad Motor Sez Limited, Horizon Glass Sez Ltd – have been allotted land to set up their industries.
President William Ruto, who presided over the launch of the Naivasha Sez on Saturday, said the site would attract foreign direct investment, stimulate industrial growth and increase exports, regretting that Kenya was currently importing too many items that could be manufactured locally. The Head of State, who commissioned a 90 megawatt electricity substation to ensure that the Naivasha Sez has an uninterrupted supply of energy, stressed that the trade area will allow Kenya to benefit from the African Continental Free Trade Area (AfCfta ), of the African Growth and Opportunity Act (Agoa) and other markets, due to its central location and close to critical infrastructure such as roads and the Sgr railway line which will facilitate transport logistics.
The Kenya Special Economic Zones Program was established by the Special Economic Zones Act 2015 to promote, facilitate and attract foreign direct investment (FDI) and domestic direct investment. [Da Redazione InfoAfrica]
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