Kilifi County secures major investments, signs six MoUs with investors
By Maureen Kinyanjui |
Deputy Governor Flora Chibule announced that the new investments, backed by both local and international investors, are set to have a transformative impact on the region.
Kilifi County has secured significant investments following the successful conclusion of the Kilifi International Investment Conference, with the signing of six Memorandums of Understanding (MoUs) aimed at boosting the county's development.
Deputy Governor Flora Chibule announced that the new investments, backed by both local and international investors, are set to have a transformative impact on the region.
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Among the key agreements, one with the China Chamber of Commerce stands out, aiming to establish a base at the Kaya Fungo Special Economic Zone and set up a small port in Takaungu.
Chibule added that investors are also committed to enhancing the county's healthcare infrastructure, with plans to install solar panels in hospitals across Kilifi.
Furthermore, more than 6,000 local youth will be trained in various skills development programs.
In addition to these initiatives, the expansion of Malindi International Airport is progressing in collaboration with the national government, further positioning Kilifi as a prime destination for investment.
Hospitality project
The announcement came during the launch of the Royal Tulia Gardens, a hospitality project worth Sh5.2 billion.
The project, spearheaded by Capital Compass Group, a company owned by Kenyans in the diaspora, is expected to create numerous job opportunities and boost tourism in the region.
Deputy Governor Chibule expressed her praise for the structured and impactful approach of Capital Compass Group, highlighting the project's significance in restoring Malindi's status as a premier tourist destination.
"This investment by Kenyans in the diaspora is a step towards restoring Malindi's lost glory as a premier destination. They are truly investing heavily and we are committed to ensuring a conducive environment," Chibule remarked.
Taita Taveta Deputy Governor Christine Kilalo also welcomed the initiative, encouraging more diaspora Kenyans to invest back home.
"This is exactly what we've been advocating for in Taita Taveta, welcoming investors to unlock the potential of our resources. I hope this success story inspires more Kenyans in the diaspora to consider investing back home," Kilalo said.
Capital Compass Group Limited Chairperson Ralph Kilondu revealed that the first phase of Royal Tulia Gardens, which began two months ago, is progressing well.
The estimated cost for this phase is Sh1.075 billion, with Sh150 million already spent. Kilondu also hinted that the overall investment for the project may increase as new opportunities emerge.
"The insights we gained at the investment conference have inspired us to think even bigger. The initial Sh5.2 billion investment might increase as more opportunities emerge," Kilondu added.
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