Connect with us

Hi, what are you looking for?


Kenyatta defends Africa-China relations, urges the West to ‘see opportunities’

Kenyatta assured the Canadian investors of the Government’s support and transparency in doing business /PSCU

New York, US, Sept 28 – President Uhuru Kenyatta has defended the relationship between Africa and China against accusations of exploitation saying that China is only taking advantage of existing opportunities, which the West have ignored.

In a meeting in New York with Canadian investors, President Kenyatta has said China has seen the returns of investing in Africa at the expense of European and North American countries who have been Africa’s traditional partners.

“Africa is not just opening its doors to China. China has seen opportunities in Africa. They have seen returns from various sectors.  This is what we have been telling our traditional friends,” said the President.

The President said he has reminded traditional partners to take advantage of emerging opportunities in Africa by investing in various sectors for the benefit of all.

He said although the West has been Africa’s traditional partners, it has ignored valuable opportunities that China is taking advantage of.

China is the single largest contributor of foreign direct investment in Africa, a position that it rose in less than a decade, according to Africa Attractiveness report by Ernest and Young.

Kenyatta assured the Canadian investors of the Government’s support and transparency in doing business reiterating that he will not allow any public officer to cut personal deals with potential investors.

Speaking on behalf of the Canadian investors, Fairfax Africa Holdings Corporation Chief Executive, Michael Wilkerson, said they have updated themselves of on the Big 4 agenda and the potential investment areas.

“ I know your Big 4 agenda and as I look at it, there are many opportunities beneficial to both Kenya and Canada. On the Canadian side we are very excited and as you know we are world leaders when it comes to renewable energy, engineering, technology, space industry, value addition to agricultural produce and the blue economy,” said Wilkerson.

The over 25 business executives, including the most recent investor David Kay whose Tenor Capital company has invested US$ 300 million in the renewable energy,  expressed their desire to partner with the Government in achieving President Kenyatta’s ‘Big 4’ pillars of development.

Advertisement. Scroll to continue reading.
Click to comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...