The Kenyan government is set to invest Sh128.5 billion in the Dongo Kundu and Naivasha Special Economic Zones (SEZs), marking a significant step in the country’s industrialization and export manufacturing agenda. The investment follows a lease agreement signed between the African Export-Import Bank (Afreximbank), the Kenya Ports Authority, and the Special Economic Zone Authority.
The signing ceremony, held in Mombasa, was attended by President William Ruto and other top government officials. The projects are expected to position Kenya as a regional industrial hub, creating at least 40,000 jobs in Dongo Kundu and 100,000 jobs in Naivasha.
Afreximbank President Prof. Benedict Oramah lauded Kenya’s commitment to industrial transformation, stating that the bank, in collaboration with the government, will finance the SEZs under the Bottom-Up Economic Transformation Agenda (BETA) with a $1 billion (approximately Sh128.5 billion) investment. He emphasized the need for Africa to leverage its vast natural resources to foster economic independence and self-sufficiency.
“For decades, Africa has watched as others reaped the benefits of its natural wealth, leaving its people dependent on aid and loans. Those days are behind us. Kenya is taking a bold step to reshape this story in a profound and impactful manner,” said Prof. Oramah. “These parks are integral to the government’s Vision 2030 development blueprint.”
Transport and Roads Cabinet Secretary Davis Chirchir echoed these sentiments, stating that the SEZs align with the ministry’s Integrated Transport Policy and will enhance Kenya’s transport infrastructure, facilitating trade and investment.
Investment, Trade, and Industry Cabinet Secretary Lee Kinyanjui encouraged both local and international manufacturers to capitalize on the incentives provided by the government, including tax holidays, to invest in the SEZs.
Senate Speaker Amason Kingi emphasized that the SEZs will cement Kenya’s position in the global export market. Mining CS Hassan Joho praised the government for bringing to fruition a project that had been long promised, while Sports CS Salim Mvurya highlighted the importance of equipping youth with the necessary skills to benefit from SEZ-related opportunities.
The Dongo Kundu SEZ is particularly expected to open up new economic frontiers, creating thousands of job opportunities and boosting Kenya’s economic growth.
