The world’s largest bank, the Industrial and Commercial Bank of China, has pledged to bring more money and investors to Kenya.
ICBC chairman Jiang Jianqing made the pledge at State House, Nairobi, on Tuesday, when he met President Uhuru Kenyatta. They are pictured above.
He was accompanied by the bank’s top officials and members of the China Entrepreneurs Forum of Yabuli, which brings together the wealthiest of the Chinese business community.
Jianqing said they were impressed by their first visit to Kenya, whose economy is making “impressive progress” and legal system is “favorable for investors”.
“We are impressed by the progress going on in Kenya and we will bring more Chinese investors,” he said.
“Kenya is not only the fastest growing economy in Africa, it is also leading in the world.”
Jiang said the bank will also push to have more Chinese tourists come to Kenya.
Uhuru said Kenya’s doors are open to investors as long as the ventures are on a “win-win basis”.
The Head of State said it was time for the economic partnership between Kenya and China to move from the government to government level to the level of companies.
He urged Chinese investors to look for Kenyan companies and individuals to partner,
“It is the people-to-people links that are fundamental to the strength of our relationship,” he said.
The Chinese delegation had on Monday held a full-day meeting with Kenyan entrepreneurs under the guidance of CSs Aden Mohamed (Industrialisation) and Henry Rotich (Treasury).
ICBC, which has an asset base of more than $3.3 trillion, realised a profit of $44 billion in 2014.
It’s pledge comes as Kenya prepares to welcome US President Barack Obama who will co-host the 6th Global Entrepreneurship Summit with Uhuru.
In an earlier address on the impending visit at State House, Uhuru said top on the agenda of talks Obama will be strengthening trade links and cooperation in security.
Uhuru cited energy, health, good governance and democracy as some of the other topics that will be discussed.
“Our discussions will eventually lead to deals that will improve our economy. We will seek IT partnerships, and investments in energy and tourism,” he said.
He said Kenya and the US will maintain the friendship they have had since the pre-independence era.
The Chinese delegation was accompanied by CFC Stanbic bank officials, led by their chairman Fred Ojiambo.
Chinese Ambassador to Kenya Liu Xianfa was also present.
– See more at: The STAR