Kenya Says French Companies to Invest $10 Billion in 12 Projects
Kenya Says French Companies to Invest $10 Billion in 12 Projects
(Bloomberg) -- French companies plan to invest more than $10 billion in 12 Kenyan projects spanning the manufacturing, energy, agriculture and technology industries, President Uhuru Kenyatta said.
About 60 executives from companies including Schneider Electric SE, Total SA, Urbasolar, Peugeot SA and Bollore SA are visiting Kenya in search of investment opportunities, the presidency said Wednesday in an emailed statement. It didn’t specify which of them would invest, nor the individual sums involved.
Kenyatta, who was re-elected last year, is seeking to expand the $70 billion East African economy with a so-called “Big Four” plan that involves boosting manufacturing to 20 percent of gross domestic product, enhancing food security, building half a million affordable housing units and providing universal health-care within the next five years.
To contact the reporter on this story: Helen Nyambura in Nairobi at hnyambura@bloomberg.net.
To contact the editors responsible for this story: Paul Richardson at pmrichardson@bloomberg.net, Michael Gunn, Robert Brand
©2018 Bloomberg L.P.