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30 Saudi companies worth Sh140 trillion plan investments in Kenya

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Trade and Investments Cabinet Secretary Moses Kuria hosted a delegation of businessmen from Saudi Arabia for the Kenya – Saudi Business Forum in Nairobi on July 12, 2023.

The delegation was led by Saudi Arabia Minister for Investment Khalid Al Falih and comprised representatives from 30 companies worth a cumulative $991 billion (Sh140 trillion).

CS Kuria described the attendance of the forum as the highest delegation of government officials and multibillion-dollar investors from the Saudi Kingdom to Kenya.

He said that among the many agreements the two sides were able to sign is the export of 10,000 skilled labourers to Saudi Arabia.

“It’s of great importance for our educational institutions to collaborate with the Saudi Arabia Govt and come up with a curriculum that fits the Saudi market, for us to be able to export more of our trained experts,” he stated.

The Cabinet Secretary added that the government aims to get this number to 1 million experts once both sides finalize the frameworks.

He stated that other deals in agriculture, poultry and meat products, energy, and banking sector were in the pipeline.

The Saudi minister of investments, Khalid Al Falih has reiterated his government’s commitment to invest in Kenya,” the CS said.

He added that the ongoing construction of the County Aggregation and Industrial Parks, CAIPS will play a pivotal role in accommodating most of these investors.

Among the companies that participated in the forum are the Saudi Exim Bank, Saudi Fund for Development, Tadawul, Red Sea Gateway Terminal, Seera Group, Arco, Mepco, Almarai, Maaden, Al Rajhi International for Investments, Saudi National Bank, Flynas, and the Grand mining group.

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