Trade Cabinet Secretary Moses Kuria on Thursday, July 27, announced that Kenya has received an investor who is going to pump Ksh60 billion into the Dongo Kundu Special Economic Zone.
Speaking in Mombasa, Kuria remarked that Pan African Industrial Spaces Developer Arise (ARISE IIP) has agreed to invest in the Mombasa Special Economic Zone which will open the region for more investments.
The CS noted that Kenya was on track to make the Dongo Kundu Special Economic Zone a key logistics hub in Africa following the commitment from the investor.
“With the expected completion of the Mombasa Airport-Dongo Kundu By-Pass by Christmas Day this year, this will ease the burden on Likoni Ferry (And use of crossing boats) and draw even more investors to the Dongo Kundu Special Economic Zone,” Kuria said in a statement.
ARISE IIP is one of the the largest industrial investors in Africa with investments in multiple countries spanning different sectors including finance, design and operating industries.
The company is present in Gabon with the Gabon Special Economic Zone (GSEZ), in Benin with the Glo-Djigbé Industrial Zone (GDIZ) and in Togo with the Adétikopé Industrial Platform (PIA).
This was the second investor that Kenya has secured for the Dongo Kundu Special Economic Zone.
On February 24, 2023, President William Ruto announced that Taifa Gas was going to set up a plant with an investment of Ksh18 billion.
The Tanzanian-based company is building a refilling plant for liquefied petroleum gas (LPG) in Mombasa with a 30,000 metric tonnes storage capacity.
The deal by Moses Kuria to bring in ARISE IIP to Kenya came at a time when his position as CS seemed precarious after he was left out of trade deal negotiations between Kenya and the US.
Since being left out of the Wednesday, July 19, negotiations, Kuria has since held high-profile trade meetings and negotiations.
A day after being left out of the US Trade negotiations, he joined President Ruto at State House during a meeting with Gregory Poole, the Senior Vice President, of Global Sourcing, the Children’s Place.
He then chaired a high-level meeting with the Kenya Vehicle Manufacturers Association (KVMA) to deliberate on how to spur growth in the automotive sector.
