Kenya: Improvon and Actis partner to build an industrial park in Nairobi
(Ecofin Agency) - In Kenya, a new industrial park worth between $110 million and $150 million should be built in the coming years, indiqué Stefano Contardo (photo), Improvon group’s CEO, indicated in an interview granted to CNBC Africa.
Named Nairobi Gate, the project plans the construction of plants and warehouses over 42 hectares to provide better locations to rapidly growing Kenyan light companies.
The result of a public-private partnership, the park will be built by Improvon, the South African logistics company, and Actis, the British company specialized in investments in emerging markets.
While the country has already initiated a vast development programme focused on infrastructure and manufacturing among others, this new project will help the government create more jobs and implement president Uhuru Kenyata’s "Big four agenda".
“We want to ensure that Kenya does even better in the next world rankings with regards to development of the industrialization sector, hence it is important to support and encourage such projects”, said Peter Munya, Kenya's minister of industry.
In the east African context marked by a multiplication of industrial zones projects to meet the increasing demand from consumers, the investment planned for this project should be complete between 5 and 7 years. Let’s note that the first phase of this project should be completed by Q2, 2019.
Moutiou Adjibi Nourou