M a r k e t N e w s

TICAD to inject at least Sh25 billion into economy - Kidero

Posted on : Wednesday, 24th August 2016

 Businesses in Nairobi are set to mint more than Sh25 billion in accommodation and deals during the upcoming Tokyo International Conference on Africa Development that will open at the weekend.

Governor Evans Kidero and Japanese ambassador Toshisugu Uesawa said Kenya will also benefit from foreign direct investments and other business deals that will be signed at the event. This is the first time the Ticad meeting is being held outside Japan.
“Kenyan’s economy is leading in the region and our corporation with this country has been solid for many years. That is why it was not hard for it to host this conference,” said Uesawa.
“This summit represents a big vote of confidence in Nairobi and Kenya, and you can all be proud that your beautiful country has earned this singular owner,” the ambassador said.
The conference will be attended by over 30 heads of state and more than 9,000 delegates. Some of the participants have started arriving in the city.
“This is direct money that our businesspeople will get leave alone foreign direct investments and other business deals that will be signed,” said Kidero.
The governor said over 2,000 Japanese business titans, among them top executives from Toyota and Mitsubishi Motor Corporation will attend the conferences.
“We hope Kenya Association of Manufacturers and the Kenya Private sector alliance will find new partners,” he said.
“Our boda bodas and taxis will also benefit because they will be moving delegates from one place to another. So it is a blessing to us.”
The leaders spoke at City Hall yesterday when the Japanese ambassador handed over four fire trucks worth Sh160 million donated by his government to Nairobi county.
Kidero said the summit has placed Nairobi and Kenya in the limelight globally again. Last month, the city hosted the United National Conference on Trade and Development (UNCTAD). Last year, Nairobi hosted World Trade Organisation Ministerial Conference, Pope Francis and US President Barrack Obama who was in the country for the Global Entreprenuership Summit.

Source : www.the-star.co.ke
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