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Digital News

Dongo Kundu, Naivasha economic zones get Sh128 billion boost in deal

By Patrick Beja | 5mos ago

Members of the parliamentary committee on Trade, Industry and Co-operatives tour the Special Economic Zone (SEZ) in Naivasha have been paralyzed for the last two years due to lack of funding from the national government. The industrial park requires Sh4.5B to be operational. [Antony Gitonga]

Kenya has entered into a Sh128 billion ($1 billion) lease agreement with the African Export-Import Bank (Afreximbank) for the development of the Dongo Kundu and Naivasha Special Economic Zones (SEZ).

Speaking in Mombasa after the agreement was signed, President William Ruto explained that the funds would significantly accelerate the development of the two SEZs, which are expected to generate a total of 140,000 jobs. The deal allocates Sh30 billion to the Dongo Kundu SEZ, a project that has faced uncertainty for decades.

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Related Topics

African Export-Import Bank (Afreximbank) Dongo Kundu President William Ruto Naivasha Special Economic Zones (SEZ)

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