India investors in Kenya now eye technology and agricultural sector

FILE: Kenya is the top destination for agritech investments in Africa

NAIROBI, Kenya - Indian investors in Kenya plans to focus more on trade, technology and agriculture in the wake of renewed investments into East African economic power house.

This was revealed by the United Asian Network - the umbrella body that brings all the Asian countries in Kenya who says that over the next few years the Asian nations are set to increase the size of investment into Kenya.

Currently most of their investments have been in education, industry, manufacturing and health. With the increased investments India will be targeting the larger EAC region that currently has an estimated market of 312 million people.

Bimal Kantaria -UAN chairman who was speaking on the sidelines of the weeklong conference commemoration of 75 years of India’s independence, said they would examine the contribution from multiple perspectives.

This will enable the Asian nations to strategically craft the areas of investments with the greatest impact “Over the next five to ten years IT is going to be very important, service industry, agriculture, millet and some of these big investments that we are talking about are going to be the future of India’s investment into the country,” said Kantaria.

India has emerged as the third leading trade partner with Kenya, according to the Economic Survey 2023. The survey says India is number three among top import sources, but the value of goods exported to Kenya dropped last year to Sh230.9 billion, from Sh250 billion the previous year.

The Asian continent still continue to dominate, accounting for 69.1 per cent of the value of trade volumes shipped to Kenya during the year.

GAROWE ONLINE