, NAIROBI, Kenya, Jun 19 – A team of executives from 30 high level investment companies from the United Arab Emirates (UAE) is due to arrive in the country for a business seminar aimed at showcasing trade opportunities in Kenya.
Making the Announcement in Nairobi on Wednesday Kenya Investment Authority Managing Director Moses Ikiara said that the seminar, scheduled for June 26 to June 28, will create an opportunity for Kenya to showcase investment opportunities.
“The seminar will provide match making opportunities for those seeking business partnerships, and Kenyan companies should take advantage of this opportunity,” he said.
Ikiara said that attracting more UAE companies to establish their businesses in Kenya will boost bilateral trade, create new jobs and also exchange knowledge in major economic sectors.
The range of businesses represented includes agribusiness, aviation, construction, finance, health, ICT, mining and infrastructure among others.
Ikiara asked Kenyan business entities to post their profiles on the portal www.dubaiconsultant.ae.infok to ensure targeted interactions.
This comes as a United States (US) based company plans to invest Sh51.3 billion in oil and gas exploration in the East African region.
Delonex Energy, an affiliate of the US based Warburg Pincus – a global private equity firm – has agreed to lead an investment of up to Sh51.3 billion to finance oil and gas exploration in the region.
Delonex Energy said it is focusing exploration in Ethiopia, Kenya, Uganda, Tanzania and Mozambique.
The company plans to access these opportunities through farm-in and direct awards from host governments to unlock the hydrocarbon potential of these countries by building a material portfolio of commercial reserves and resources.
Newly discovered petroleum resources in Kenya and Uganda as well as large gas discoveries in Mozambique and Tanzania make the region one of the most attractive for upstream oil companies.
The additional investment flow by Delonex Energy is likely to be sustained by other companies seeking to tap the enormous exploration frontiers of Eastern Africa, both onshore and offshore.