KENYA: Investors committed Sh21 billion worth of deals during the inaugural Kisii Entrepreneurship Summit.
Kanoria Group from India has promised to pump Sh5 billion to establish a sugar complex to produce sugar, ethanol and power.
Group Chief Financial Officer Vinod Vora announced that his firm would construct the sugar complex that will initially crush 2,500 tonnes and produce 86,000 tonnes of sugar, 7,500 litres of ethanol and 8 megawatts of electricity. The biomass waste will be used to make animal feed and other products.
The county government has already identified land to house the project in South Mugirango. Currently, some 3,500ha is under sugarcane. Annual production stands at 245,000 tonnes with a yield of 75,000 tonnes per ha.
In 2012, 110,000 tonnes were delivered to Sony Sugar factory in Migori County while 12,000 tonnes to Sukari Sugar factory in South Nyanza. Also, 49,000 tonnes were processed as jaggery.
Chinese firm Boleyn Magic Wall Panel pledged to invest Sh12 billion in a factory to produce pre-cast concrete housing solutions. The firm will offer low cost housing solutions in South Nyanza, and will create 10,000 new jobs in the region.
Moke Gardens Director Harun Nyamboki who is a partner in the project said the firm was willing to buy land from locals for the project.
In ICT, voice, data and IP provider Liquid Telecom will invest Sh6 billion in connectivity projects. Chief Commercial Officer Paul Statham said his firm will invest in connecting the county government with its devolved units. It will also build a metro WiFi in Kisii Town and inter-connect with Isebania along the Kenya-Tanzania border.
“The effect of this investment is that there will be improved mobile phone services, better retail facilities in Kisii Town and boost entrepreneurship due to the free wi-fi. We hope to kick off the project in June this year,” said Statham.
Governor James Ongwae exuded confidence that more investment commitments will be signed before the close of the Summit.
“We are looking forward to signing contractual agreements and MoUs with these investors. We shall do all within our hands to create an enabling environment for investors in health, infrastructure, trade and industry as well as agribusiness.”
Taiwan-based entrepreneur Ken Ondieki said he planned to repackage Kisii tea and use it to make whiskey and vodka in China.