Kenya govt grants 10 years visa to Nigerian businessmen , as Dangote to invest N64bn in Kenya’s cement production
The Dangote Group is to invest about N64 billion ($400 million) in Kenya’s cement production within the next two years.
Chairman of Dangote Group, Aliko Dangote, disclosed this at a Nigeria-Kenya Business Forum held in Nairobi yesterday.
The Forum jointly presided over by President Goodluck Jonathan and his counterpart from Kenya, President Uhuru Kenyatta, had more than 500 investors from Nigeria and Kenya.
In the same vein, President Kenyatta has announced five to 10 years visa duration for Nigerian business men coming to Kenya.
Kenyatta who said he was taking cue from President Jonathan who had already approved the policy in Nigeria said, the policy would ease the challenges of visa procurement and encourage investors from Nigeria to Kenya.
Also a leading Indian textile manufacturing company, Bei Textile Ltd. has indicated interest to invest in textile and garment in Nigeria.
A Memorandum of Understanding was signed at the Forum to strengthen the already existing Nigeria-Kenya Chamber for Commerce and Industry.
Dangote who served as the chairman dialogue group at the forum, said it underscored the need for Africa to look inward in partnership in trade and investments.
He decried the situation where intra trade in the continent is below 12 per cent, adding that he decided to use the Nigeria-Kenya initiative as model on the continent.
Dangote thanked Presidents Jonathan and Kenyatta for creating the window of opportunity for the business community to interact on way to improve trade between both countries.
He said Kenya would assist Nigeria in boosting sector where it has comparative advantages such as tourism and hospitality, horticulture, dairy, sugar and ICT.
On the other hand Nigeria would assist Kenya in the oil and gas sector, Movie and Entertainment industry, agriculture and banking sectors.
Presidents Jonathan and Kenyatta assured the forum of the political will of their respective administration to support the initiative to beneficial end.