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The Kenyan government plans to invest over Sh128 billion in the development of the Dongo Kundu and Naivasha Special Economic Zones (SEZs).
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A lease agreement was signed between the African Export-Import Bank (Afreximbank), the Kenya Ports Authority (KPA), and the Special Economic Zone Authority, marking the start of the Sh128.5 billion initiative. Once completed, the project is expected to boost the country’s industrialization and export manufacturing efforts.
The signing ceremony in Mombasa was attended by President William Ruto and several top government officials, including cabinet secretaries.
This multibillion-shilling project is anticipated to position Kenya as a regional leader in exports and industrialization, with plans to create around 40,000 jobs in Dongo Kundu and 100,000 jobs in Naivasha.
Afreximbank President Prof. Benedict Oramah highlighted Kenya’s commitment to industrial transformation. He noted that, under the agreement, Afreximbank, in partnership with the government, will finance the Dongo Kundu and Naivasha SEZs as part of the Bottom Up Economic Transformation Agenda (BETA), with an investment of $1 billion (approximately Sh128.5 billion).
Prof. Oramah remarked that while Africa is rich in resources, it has long struggled to convert its wealth into lasting prosperity for its people. He emphasized that Kenya is now taking bold steps to change this narrative. The SEZs, he stated, are crucial to the government’s Vision 2030 development plan.
“These agreements are not just formalities; they are a commitment to the Kenyan people that the country will emerge as an industrial power and an example of self-sufficiency,” Prof. Oramah said.
Transport and Roads Cabinet Secretary Davis Chirchir emphasized that the project will stimulate industrialization and align with the ministry’s Integrated Transport Policy. He described the event as a significant step in enhancing transport infrastructure and fostering trade and investment.
The Dongo Kundu SEZ, he added, reflects the government’s determination to build a strong economy for the country.
Investment, Trade, and Industry Cabinet Secretary Lee Kinyanjui urged both local and international manufacturers to seize opportunities provided by the government, such as tax incentives, to invest in the SEZs.
Senate Speaker Amason Kingi expressed that the SEZs will enable Kenya to assert its presence in the export market. He praised the deal as a historic move, contrasting it with other smaller, tribal partnerships, and highlighting it as a significant investment for the country.
Mining Cabinet Secretary Hassan Joho pointed out that the Dongo Kundu SEZ will open new economic opportunities and create numerous jobs. He thanked the President for bringing the long-discussed SEZ to fruition, noting that it had previously been used as a campaign promise by politicians.
Sports Cabinet Secretary Salim Mvurya emphasized the need to align youth skills with the investment opportunities in the SEZs and commended KPA for compensating those affected by the Dongo Kundu project.
