Chandaria Industries to help Korean start-ups enter Africa

Kim Byung-Sook(Left) President & CEO Korea Western Power CO LTD and Mr.Shaun Zambuni(Right) Chairman Sosian Energy sign agreement for menengai geothermal power project during the Kenya - Korea Business Forum. [Wilberforce Okwiri, Standard]

The visit by the Republic of Korea Premier Lee Nak-you is set to boost technology and skills transfer to local companies as the two countries push for more business partnerships.

Friday, Korea Western Power signed a deal with Sosian Energy to increase import of Korean power generation equipment for its facilities in Menengai.

The two firms affirmed their 25-year deal on operations and maintenance of the 35-megawatt geothermal plant, saying the commitment will go a long way in enhancing clean energy.

Korea Trade-Investment Promotion Agency (KOTRA) also inked a deal with Chandaria Industries to help Korean start-ups find a footing in the countries where the manufacturing firm operates in.

Under the Korea Start-up Support Programme, Chandaria Industries will offer the companies legal and marketing advice of accessing the Kenyan market as well as other African countries.

During an event held Friday, PM Nak-you and Information, Communication and Technology Cabinet Secretary Joe Mucheru said significant steps have been taken by the two countries to promote technology.

“Some Kenyans have been trained by Korea on technology, a collaboration that is significant to the country. Korea has also come with over 70 businesses,” Mucheru said Friday.

Technology

Among the support include Sh13 billion for development of Konza Technology City where Korea contributed Sh10 billion while Kenya allocated the remaining Sh3 billion.

Nak-you, who was on his first visit to Kenya and Africa, termed Kenya the “gateway to East Africa” saying it was the most important partner in the continent.

“Kenya has abundant resources, labour, political stability and strong government potential that creates a synergy when combined with Korea’s advanced technology,” said Nak-you.

The PM promised that his country would support Kenya’s Big Four agenda.

At the event, Korea Incinerator Company donated Sh7.1 million worth of equipment to the National Transfusion Centre. Also, Korea’s KT Corporation and Dot Inc in collaboration with Safaricom donated 55 braille smartwatches for the blind in Kenya.

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