President Ruto Signs Multi-billion-shillings Deals in China

President William Ruto has sealed seven major investment deals valued at around Ksh 123 billion (US$949 million) during his ongoing state visit to China.

The agreements were signed on Wednesday during the Kenya-China Investor Roundtable in Beijing, where President Ruto urged for greater participation by China’s private sector in Kenya’s economic transformation journey.

Announcing the deals, President Ruto emphasized the role Chinese investments continue to play in Kenya’s development agenda noting, “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 deals, spanning manufacturing, agro-processing, steel production, smart transport technology, textile industries, and tourism, are expected to create over 25,500 direct jobs for Kenyans.

The Chinese firms involved include China Wu Yi, Chongqing Shancheng Apparel Group, Rongtai Steel, Anhui Jiubao Electronics, Shandong Jialejia Agriculture, Zonken Group, and Huatian Hotels.