Details Of Deals Worth Ksh107 Billion Ruto Signed In China

President William Ruto on Wednesday, April 23, secured seven investment deals worth Ksh 107 billion ($823 million) during his state visit to China.

The Head of State oversaw the signing of these multi-billion shilling agreements with various Chinese firms. "We endeavour to encourage even greater participation of China's private sector in our journey of economic transformation, which in turn, will create thousands of jobs for our youth," he stated in part.

"At the Kenya-China Investor Roundtable in Beijing, I witnessed the signing of seven deals by Chinese companies that intend to invest in Kenya with new projects. The investment deals span the manufacturing, agriculture, and tourism sectors."

An image of Chinese and Kenyan officials during the signing of seven deals by Chinese companies that intend to invest in Kenya with new projects. /PCS

In the manufacturing sector, the Kenyan government landed a Ksh 19.5 billion ($150 million) deal with China Wu Yi for projects including manufacturing, processing, and warehousing in Kajiado and Kilifi counties, as well as investments in Tatu City, Konza Technopolis, areas near Jomo Kenyatta International Airport, Athi River, and the Kileleshwa Project Factory.

Additionally, the government secured Ksh 2.6 billion from Chongqing Shengsheng Apparel Group and Ksh 6.5 billion from Beijing Shenzhou Zhonghe Education Technology.

In agriculture, Kenya signed off on a Ksh 52 billion agreement with Zonken Group, along with a Ksh 3.9 billion investment from Shandong Jiajiali Agriculture and Animal Husbandry Technology.

The Ruto administration also clinched a Ksh 2.9 billion deal with Biltmore Manhattan Hotel Management to build a 5-star hotel in Nairobi.

During the visit, Ruto weighed in on the trade wars between China and the United States (US). "The ongoing trade tariff wars could signal the end of the old world order as it has existed since the end of World War II," he said during a public lecture at Peking University in Beijing.

"The financial and security architecture that arose out of the ashes of that conflict has largely benefited the Global North at the expense of the Global South, with the exclusion of everyone else."

President Ruto arrived in Beijing, China, on Tuesday, April 22, for a series of high-level meetings focused on strengthening ties with one of the world's top economic giants.

The trip aims to advance the Comprehensive Strategic Partnership that Kenya and China launched in 2017—a relationship that has since made China one of Kenya’s key allies.

During his time in Beijing, Ruto is scheduled to hold bilateral talks with President Xi Jinping, with the agenda expected to focus on economic growth, sustainable development, and other mutual priorities.

President William Ruto speaking during the signing of seven deals by Chinese companies that intend to invest in Kenya with new projects. /PCS