Afreximbank will finance the development and operationalisation of industrial parks (IPs) and special economic zones (SEZs) to bolster the country’s industrialisation and export manufacturing
In a groundbreaking move that will redefine Kenya’s industrial landscape, Afreximbank and the Kenyan government have inked a historic agreement to turbocharge the country’s industrialization. This multi-billion-dollar deal promises to transform Kenya into a manufacturing powerhouse and unlock untapped potential in Africa’s economic future.
Kenya is on the brink of a manufacturing revolution. With a bold investment from Afreximbank, Africa’s leading trade development bank, the country is set to create world-class industrial parks and special economic zones (SEZs) that will accelerate its economic growth and position it as a global player in the export market. This historic partnership is more than just a financial deal, it’s a commitment to reshaping Africa’s future through innovation, investment, and industrial growth.
Afreximbank’s partnership with Kenya is set to create state-of-the-art industrial parks and SEZs, with the Dongo Kundu and Naivasha II projects leading the charge. These projects will not only strengthen Kenya’s manufacturing base but also create thousands of jobs and drive export-led economic growth.
Afreximbank is committed to a three-year, $3 billion country programme for Kenya, designed to boost trade, industrialization, and infrastructure. This long-term investment promises to unlock new opportunities for Kenyan businesses and African entrepreneurs alike.
The industrial parks will cater to export-oriented industries, offering economies of scale, shared infrastructure, and access to global markets. With the expertise of Arise IIP, these zones are poised to become Africa’s industrial hubs.
Both the Dongo Kundu and Naivasha II projects are part of Kenya’s Vision 2030, which aims to transition the country into a middle-income economy by focusing on industrialization and value-added goods exports. These initiatives are seen as game-changers in the nation’s economic strategy.
Afreximbank President Prof. Benedict Oramah’s words echo a deeper sentiment: Africa must rise above aid dependency and chart its own course toward self-reliance. The signing of these agreements marks Kenya’s bold step toward realizing this vision, not just for itself, but for the entire continent.
These agreements aren’t just about creating industrial hubs; they are about redefining Africa’s place on the global stage. By developing Kenya’s infrastructure, attracting foreign investment, and creating jobs, Afreximbank is helping to shape the future of African manufacturing, agro-processing, and value-added goods.
As the world’s largest emerging market, Africa is ready for a new era of industrialization. With the visionary leadership of Afreximbank and the Kenyan government, this partnership signals a bright future for the continent. Will this be the turning point Africa has long awaited? Only time will tell, but one thing is clear: Africa’s economic transformation is in full swing.