Government courts Indian investors in pharma, agriculture and textile sectors

Industry Principal Secretary, Dr. Juma Mukhwana, has urged investors from India and other nations to consider investing in  the pharmaceutical, agricultural and textile sectors in Kenya.

 

Dr. Mukhwana, who graced the 5th India-Africa Entrepreneurship and  Investment Summit in Nairobi, underscored the potential in these  sectors.

 

He noted that investors would benefit from  trade agreements for quota  and duty free exports to the United Kingdom (UK), United Arab Emirates, (UAE), China and other nations across the globe. 

 

The agreements would give the investors an upper hand in accessing market for their products, enhancing better profit margins.

 

Citing the country as a gateway to Africa and beyond, Dr. Mukhwana said, “Kenya has ripe investment opportunities especially in the pharmaceutical sector. It has been ranked as the 2nd most advanced health system in Africa." 

 

"With Kenya being the leading producer and exporter of avocado in Africa, there is great investment potential in this field. The government is enhancing value chain through development of the County Aggregation Industrial Parks (CAIPS) to bridge the gap between producers and manufacturers and prevent harvested produce wastage. This will enhance the quality and quantity of avocado exports," he said.

At the event was Bidco- Africa CEO, Mr Vimal Shah, who said investors should treat Africa as a long time investment partner. He emphasized the value of the existing trust with not only Kenya but also Africa at large.

 

“Africa is a safe space to invest,”he added. 

 

Busisa Moyo, the CEO of United Refineries Zimbabwe, said Africa being a young continent is ready to welcome investors from all over the world. 

 

He called upon stakeholders to join the rest of Africa to develop mutually-beneficial business partnerships. He said it is time to change the narrative and realize the investment potential in Africa.

 

The event brought together entrepreneurs, investors and industry experts.

 

India is one of Africa’s largest trading partners, providing African countries with technology, knowledge and support in healthcare and pharmaceutical.

 

“There is great value in developing healthy business ecosystems and trust networks,” the Chairman, Global Energy Alliance for People and Planet, Ravi Venkatesan, said.

 

“It is time to stop working in silos and develop business partnerships”, he added.

 

He  called upon all the investors to continue building bridges that will deepen business ties between Africa and India.