Chief executives of the 11 companies expressed interest in investing in energy, infrastructure, health and innovative technologies, among other projects, during a one-on-one meeting with President Uhuru Kenyatta at State House in Nairobi. asserted/file
NAIROBI, Kenya, August 29 – Eleven major Japanese companies with a total market capitalization of more than Sh60 trillion now want to start doing business in Kenya.
Chief executives of the 11 companies expressed interest in investing in energy, infrastructure, health and innovative technologies, among other projects, during a one-on-one meeting with President Uhuru Kenyatta at State House in Nairobi. expressed.
Japanese industry executives, who had initially held talks with the Kenyan private sector, were joined by five Kenyan business leaders in talks at the state parliament. Representatives of the Kenya Private Sector Alliance are Paul Chepkwani of Jammy Telecoms, Rita Kavashe of General Motors, Chris Kirubi of Centum Investment Company, Dennis Awori of Toyota Tsusho, and Joshua of KCB.・It was Mr. Oigara.
The decision by Japanese companies to invest in Kenya is likely to boost the country's economy, which is already on a positive growth trajectory.
Kenya is already experiencing a large influx of foreign direct investment (DFI) from Japan, with companies such as Toyota Kenya, Nissan, and Honda establishing automobile assembly plants in the country.
The Honda factory is jointly owned by Honda, a Japanese company (90%) and a Kenyan investor (10%).
The 11 giant companies were among the 75 major Japanese companies that took part in the 6th Tokyo International Conference on International Development (TICAD VI), which ended with great success on Sunday.
These companies are Toray Industries, which has a market capitalization of 901 billion lice, and was represented by Keidanren Chairman Dr. Sadayuki Sakakibara, who also led the delegation at the business development conference in Nairobi.
Mr. Hisanori Kano is the representative of JFE Engineering Corporation with a market capitalization of Sh3.4 trillion, Mr. Jun Karube of Toyota Tsusho Corporation with a market capitalization of Sh1.3 trillion, and the representative of Nippon Signal Co., Ltd. with a market capitalization of Sh50 billion. was Yohei Furuhata.
The representative of Kubota Corporation worth 1.6 trillion shillings is Mr. Masatoshi Kimata, the representative of Japan Tobacco Company with a market capitalization of 4 trillion shillings is Mr. Mitsuomi Koizumi, the representative of Fukuyama Transport Company with a market capitalization of 99 billion shillings is Mr. Shigehiro Komaru. The Sh3.6 billion Mitsubishi Hitachi Power Systems was represented by Mr Nishizawa. Takato.
Other Japanese business magnets are Tamotsu Saito, former head of IHI Corporation with a market capitalization of Sh16 trillion, Kinya Seto of LIXIL Group, with a market capitalization of Sh220 billion, and Toyo Construction, with a market capitalization of Sh36 billion. It was Mr. Kyoji Takezawa, who served as the company's representative.
Ongoing projects by Japanese companies in Kenya include the construction of a bridge in front of Nairobi Station by JFE Engineering Corporation. Embu water supply system improvement by Konoike Construction Co., Ltd. and Naivasha green toilet system project by LIXIL Co., Ltd.
On Sunday, 73 memoranda of understanding aimed at promoting trade between the African continent and Japan were signed.
The 73 memoranda of understanding involve 22 Japanese companies and universities with African countries.
The deal follows a pledge by the Japanese government to provide $30 billion in public and private support for Africa's infrastructure development, education and health expansion over the next three years.
Speaking at the MOU signing ceremony on Sunday, President Kenyatta emphasized the importance of entrepreneurship as a key driver of economic growth, socio-economic transformation, job creation and social inclusion.
Japanese Prime Minister Shinzo Abe said 67 percent of the money the country has pledged to Africa so far has already been spent on various projects.
