Chairman,
Dangote Group, Alhaji Aliko Dangote, on Friday said that his firm had
concluded necessary arrangements to invest $400m (N64bn) in cement
production in Kenya within the next two years.
Dangote stated this at a Nigeria-Kenya
Business Forum which was jointly presided over by President Goodluck
Jonathan and his counterpart from Kenya, President Uhuru Kenyatta, in
Nairobi, Kenya.
The business forum, which had more than
500 investors from Nigeria and Kenya in attendance, was part of the
activities to mark the second day of President Jonathan’s official visit
to the East African country.
Kenyatta, at the Forum, announced five
to 10 years visa duration for Nigerian businessmen who would want to
invest in the Kenyan economy.
He said the policy would ease the challenges of visa procurement and encourage investors from Nigeria to Kenya.
Kenyatta said he was taking a cue from Jonathan who had already approved the policy in Nigeria.
Also at the forum, a leading Indian
textile manufacturing company, Bei Textile Limited, expressed its
intention to invest in the textile industry in Nigeria.
The forum witnessed the signing of a
Memorandum of Understanding to strengthen the already existing
Nigeria-Kenya Chamber for Commerce and Industry.
Dangote, who served as the Chairman
Dialogue Group, said the forum underscored the need for Africa to look
inward in terms of partnership in trade and investments.
He said the forum decried the situation
where intra trade in the continent was below 12 per cent. He noted that
the forum had decided to use the Nigeria-Kenya initiative as model in
Africa.
Dangote commended the two Presidents –
Jonathan and Kenyatta – for creating an opportunity for the business
community to interact on ways to improve trade between both countries.
He said Kenya would assist Nigeria in
boosting sectors where it had 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.
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