Expect more investors from China, ICBC tells Kenya

July 21, 2015
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The chairman of ICBC  Jiang Jianqing made the pledge Tuesday when he met President Uhuru Kenyatta at State House, Nairobi/PSCU
The chairman of ICBC Jiang Jianqing made the pledge Tuesday when he met President Uhuru Kenyatta at State House, Nairobi/PSCU
NAIROBI, Kenya, Jul 21 – The Industrial and Commercial Bank of China has pledged to bring more money and investors to Kenya.

The chairman of ICBC Jiang Jianqing made the pledge Tuesday when he met President Uhuru Kenyatta at State House, Nairobi.

Jiang was accompanied by top officials of the bank and members of the China Entrepreneurs Forum of Yabuli, which brings together the wealthiest of the Chinese business community.

He said it was the first time ICBC bank officials had come to Kenya and they were impressed.

“We are impressed by the progress going on in Kenya and we will bring more Chinese investors to Kenya. Kenya is not only the fastest growing economy in Africa, it also leading in the world” he said.

He said the economy was making impressive progress and the Kenyan legal system is favourable for investors. Jiang said the bank will also push to have more Chinese tourists come to Kenya.

President Kenyatta said Kenya’s doors are open to investors as long as the ventures are of mutual benefit.

“We are open for business and our only formula is that it must be on a win-win basis,” said the President.

The Head of State said it was time for the economic partnership between Kenya and China to move from the government to government level to the level of companies.

He urged Chinese investors to look for Kenyan companies and individuals to partner with as they seek to invest in Kenya’s growing economy.

“It is the people to people links that are fundamental to the strength of our relationship,” said the President.

The Chinese delegation had on Monday held a full day meeting with Kenyan entrepreneurs under the guidance of Cabinet Secretaries Aden Mohamed (Industrialisation) and Henry Rotich (National Treasury).

The two CSs attended the meeting at State House.

With an asset base of more than 3.3 trillion US Dollars, ICBC stands out as the world’s largest bank. The bank realised a profit of $44 billion last year alone.

The Chinese delegation was accompanied by officials of CfC Stanbic bank led by their chairman Fred Ojiambo.

Chinese Ambassador to Kenya Liu Xianfa also attended the meeting.

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