Kenya: Tatu City, China-Africa Chamber of Commerce in a Deal to Drive Bilateral Investments

23 August 2023
Capital FM (Nairobi)

Nairobi — Tatu City and the China-Africa Economic and Trade Chamber of Commerce (CAETC) have partnered to promote economic growth between the Kenya and China.

CAETC, a non-profit social organisation composed of Changsha-based enterprises, will enhance trade and cooperation between China and Africa through market access, among others.

The agreement is also poised to strengthen bilateral ties between the two nations, opening doors for various investment opportunities.

"This collaboration between Tatu City and the China-Africa Economic and Trade Chamber of Commerce marks a significant milestone in enhancing the connections between our nations," Johanna Chen, Executive President of Changsha Chamber of Commerce said.

"We are excited about the potential to drive economic growth through joint investments here at Tatu City SEZ."

Currently, Tatu City hosts Chinese enterprises, including Tianglong Cylinder Company, Stecol Corporation, FullCare (Kenya) Medical SEZ Limited, Zheng Hong, and Peonystar Kenya Limited.

Overall, 77 operational or under-development companies represent over Sh200 billion in investments at the Ruiru-based SEZ.

More than 9,000 people now work for firms such as Dormans, Copia, Cooper K-Brands, Grit Real Estate Income Group, Twiga Foods, Freight Forwarders Solutions, Friendship Group, Davis & Shirtliff, Kenya Wine Agencies Limited and Roast by Carnivore.

Crawford International School and Nova Pioneer educate more than 3,500 students daily, and more than 4,000 people live in Unity Homes and Lifestyle Heights apartments and the Kijani Ridge premier neighbourhood.

"We have had discussions with the Common Market for Eastern and Southern Africa (COMESA) and the East Africa Community (EAC) Secretariate to establish how trade policies can be refined to promote investments and market access in Africa," Solomon Mahinda, Executive Vice President of Tatu City stated.

"Our collaboration with CAETC magnifies this conversation and signifies a harmonious blend of strengths and opportunities," he added.

"We look forward to creating synergies that will unlock new avenues of growth, stimulate trade, foster enduring friendships between our countries and establish Kenya and the greater East Africa region as the landing port for continental investments."

Read the original article on Capital FM.

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