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Kenya's infrastructure funding gap currently stands at Sh178.5 billion per annum.


Kenya to seek infrastructure investments at GES

Kenya's infrastructure funding gap currently stands at Sh178.5 billion per annum.

Kenya’s infrastructure funding gap currently stands at Sh178.5 billion per annum.

NAIROBI, Kenya, Jul 15 – Kenya plans to take advantage of the visit by United States President Barack Obama’s and other investors during the Global Entrepreneurship Summit (GES) to seek investment opportunities.

Kenya Investment Authority (KenInvest) Managing Director Moses Ikiara says more focus will be in infrastructure projects that need huge financing as Kenya’s infrastructure funding gap currently stands at Sh178.5 billion per annum.

Among these projects are the Konza Technology City, Lamu Port Southern Sudan Ethiopia Transport (LAPSSET) project, the Standard Gauge Railway (SGR), and the construction of 10,000 kilometres of road.

Ikiara said already a number of companies have called in seeking meetings with the authority regarding investment opportunities in the country.

“Some of the investors are seeking construction opportunities in the LAPSSET project, others are seeking to open up security companies to offer security especially in oil exploration and mining as well as consultancy firms, we will notify you when the deals are made,” Ikiara said without disclosing the number of investors who called in.

READ: Kenya has a lot to showcase at GES – Collymore

KenInvest has organised an expo in conjunction with Kenya International Convention Centre and other stakeholders two days before the GES to showcase opportunities for investments in the country.

“The expo will also involve Kenyan entrepreneurs who will showcase their products and investment opportunities to both local and international investors,” he revealed.

Apart from infrastructure, KenInvest will also showcase energy projects and the one million acre Galana/Kulalu irrigation project.

“This visit is an immense opportunity for us to market our country, Think about how many millions of people will be watching in the world? Think about the delegation that is coming? We however need to sustain the momentum after the conference,” he concludes.

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It is estimated that there will be 1,500 investors from across the globe attending the GES.

Among the investors include three billionaires who take part in American television series ‘Shark Tank’

READ: ‘Shark Tank’ billionaires to attend Nairobi GES

The three who will be among speakers in the summit are Daymond John, founder and President of FUBU fashion line, Barbara Corcoran, founder of Barbara Corcoran Venture Partners, as well as Mark Cuban who is an investor, film producer, and owner of the basketball team Dallas Mavericks.

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