French firms to invest over Sh1 trillion in 12 projects in Kenya

david nganga

March 7, 2018 6:40 PM

The investments will cut across 12 projects spanning health, roads, energy among others.

French firms have pledged to invest more than $10 billion (Kshs1 trillion) in various projects in Kenya, Kenyan and French officials said.

In a meeting that brought together business executives of the French business confederation (MEDEF), Kenya Private Sector Alliance and President Uhuru Kenyatta, the MEDEF officials said the brands will invest in 12 projects spanning industry, roads, energy, food security, health and technology.

“The identified projects will attract more than $10 billion in investments and create thousands of new direct jobs,” said Industrialisation Cabinet Secretary Adan Mohamed.

The companies included major French firms Schneider Electric, Total, Urbasolar, Peugeot, Sse Air Liquide, Semmaris and Bollore among many more.

MEDEF president, Mr Pierre Gattaz, also stated that French technology companies are ready to work closely with Technical and Vocational Training centres to boost Kenya’s pool of trained and skilled workers.

President Kenyatta tasked the Industrialisation Cabinet Secretary to coordinate and the investment plans by the French companies.

“I am looking forward to deepening the partnership between Kenya and the French business community,” said the President as he assured the investors that Kenya is ready for business with them.

david nganga