TICAD to inject Sh12bn into Kenya’s economy

August 18, 2016
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Foreign Affairs Cabinet Secretary Amina Mohamed says the conference is expected to double the gains made during the United Nations Conference on Trade and Development (UNCTAD) that injected Sh6 billion to the economy/FILE
Foreign Affairs Cabinet Secretary Amina Mohamed says the conference is expected to double the gains made during the United Nations Conference on Trade and Development (UNCTAD) that injected Sh6 billion to the economy/FILE

, NAIROBI, Kenya, Aug 18 – Kenya expects the Tokyo International Conference on Africa Development (TICAD) in Nairobi to inject Sh12 billion into the economy.

The conference will be held on August 27 and 28.

Foreign Affairs Cabinet Secretary Amina Mohamed says the conference is expected to double the gains made during the United Nations Conference on Trade and Development (UNCTAD) that injected Sh6 billion to the economy.

About 35 African Heads of State have confirmed attendance the conference with more expected to confirm.

“UNCTAD brought about 7, 000 delegates while TICAD is set to bring about 10,000 delegates. The benefits accrued will double those made during UNCTAD,” she explained.

Over 100 companies from Japan will be in the country to exhibit as part of the 4,000 delegates from Japan.

Moreover 60 business Memorandums of Understanding are also expected to be signed during the conference.

“The conference will also have 73 side events organised by Japan-Africa Business Summit, World Bank, United Nations as well as the African Union and regional and international organisations,” Mohamed explained.

The government is set to use about Sh500 million for the conference.

On his part, Devolution Cabinet Secretary Mwangi Kiunjuri says the event will see Kenya sell itself as the ‘to go to’ destination for conferences all over the world.

“At the last TICAD in 2013, the government of Japan gave out Sh320 billion to Africa development. Kenya benefited on various projects that include the Olkaria Geothermal, expansion of Mombasa Port among many others,” Kiunjuri stated.

Already over 60 hotels within the Central Business District have confirmed bookings.

This is the first time the event is happening on African soil.

Major roads within the Central Business District are expected to be closed. The Kencom bus stop will also be affected.

The Security Head for the TICAD Conference Amos Gathecha says roads near the Kenyatta International Convention Centre (KICC) – the venue for the conference – will be shut during the period.

The roads affected during the period include Parliament Road, Taifa Road, Harambee Avenue and City Hall Way with those attending the event with their vehicles urged to get accreditation for their vehicles at City Hall.

He says ample security will be offered in the major hotels within the CBD where the delegates will be staying.

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