ARISE IIP Kenya has formally entered Kenya’s manufacturing industry with a sweeping ambition to establish a network of world-class Special Economic Zones (SEZs) and industrial parks in Kilifi, Mombasa, Naivasha, and Eldoret a step bound to spur Kenya’s industrial transformation and economic diversification.
This development of the flagship zones is a major milestone for ARISE IIP Kenya, making Kenya a competitive manufacturing, trade, and exports destination in the East African Community (EAC), COMESA, and African Continental Free Trade Area (AfCFTA).
The initiative also aims to reach international markets through platforms like the African Growth and Opportunity Act (AGOA).
Speaking during a Nairobi media press conference, ARISE IIP Kenya CEO George Olaka noted the company’s long-term orientation and complementarity to the government’s industrial agenda.
“Kenya is the gateway to East Africa and the rest of the continent, and it has an extremely robust policy framework and a permissive framework for industrialization. With our integrated industrial platforms, we wish to attract local and international investors alike, and offer manufacturers the infrastructure and ecosystem they need in order to compete abroad,” he continued.
Earlier this year, ARISE IIP Kenya inaugurated its first flagship project the Vipingo Special Economic Zone, an 824-hectare industrial park in Kilifi County constructed in partnership with Centum Investment Company.
The company is also currently developing the Coast Integrated Industrial Park in Mombasa’s Dongo Kundu SEZ and the Great Rift Industrial Park in Naivasha, Nakuru County, in partnership with the Government of Kenya and Afreximbank.
Another key component of ARISE IIP Kenya’s expansion is the 21-year lease of Eldoret-based Rivatex East Africa SEZ Limited one of Kenya’s most iconic textile producers. The investment is an indication of the company’s goal of bringing Kenya’s cotton, textile, and apparel (CTA) value chain back into business.
“Reviving our cotton and textile value chain means jobs, stability of foreign exchange, and expanding the tax base. With Rivatex, we are creating a complete textile value chain from the producers of cotton to the spinners, weavers, and garment makers,” Mr. Olaka said.
Cumulatively, the projects are expected to unlock more than USD 3 billion of industrial investment, generating over 100,000 direct jobs and up to 500,000 indirect jobs upon commissioning.
The project has a back-up of a joint financing facility of $800 million from Afreximbank and KCB Bank Kenya, a sign of confidence by investors in ARISE IIP Kenya’s business model.
Collaboration among the government, the private sector, and development finance institutions is essential. Working together, we can escalate our collective ambition for making Africa an industrialized and globally competitive continent,” said Mr. Olaka.
ARISE IIP Kenya is among ARISE Integrated Industrial Platforms operating 20 industrial platforms in 14 nations of Africa, promoting local processing of raw materials into finished products for regional and international markets.
