A three-day exhibition targeting construction, infrastructure, building and energy sectors in East Africa is underway in Nairobi, attracting global firms hunting for opportunities in the region.
The expo dubbed CIBEX East Africa Conference has drawn in companies from 12 countries worldwide. It will highlight the various government-initiated cross-border projects such as Standard Gauge Railway and Lappset. Such huge infrastructure projects present ancillary opportunities for construction firms as they straddle neighbouring counties.
Participants at the trade fair that kicked off yesterday will also have opportunities for private match-makings during the conference. The expo will also highlight technology in use for construction, safety at project sites and handling of hazardous substances.
"With a population of 133 million and an average annual economical growth rate of 5.9 per cent covering Burundi, Kenya, Rwanda, Tanzania and Uganda, the regional market is becoming an attraction to international investment," the expo organisers said.
The CIBEX expo is hinged on the premise that increase in population has spurred demand for affordable housing, and commercial and industrial buildings. These create opportunities to build prefabricated low-cost housing and manufacture and supply of construction materials.
"In Kenya for instance, the firms are seeking to cash in on major infrastructure projects such as road construction and rehabilitation, development of the two trillion Kenya Shillings Lamu Port and associated infrastructure, rehabilitation of airports; construction of power generation plants among others," it said.