It is scramble for Kenya’s market as foreign companies jostle for space

When on April 2nd 2015 Centum Investment Company Limited (“Centum”) signed an investment deal worth USD 155 MILLION (Kshs.14 billion) in debt and equity with AVIC International, Industrial & Commercial Development Corporation (“ICDC”) and The Co-operative Bank of Kenya Limited, it is not ICDC nor The Co-operative bank that caught my attention but AVICI, formed in 1979 and controlled by AVIC (Aviation Industry Corporation of China).

AVIC itself was formed in 1st April 1951 during the Korean War, later spilt into AVIC I and AVIC II respectively then merged again in 2008 to focus on the efficient development of indigenous (Chinese Oriented) military technologies, and to eventually compete with Airbus and Boeing in the civilian airline industry. But it is has since diversified into other business ventures notably real estates and construction industry.