An attendant fuels a car at a petrol station. Firms scouting for deals
are expected to increase as the region’s natural resource industry
begins to take off. FILE
Nation Media Group
By NEVILLE OTUKI
In Summary
- About 40 Egyptian companies will visit Kenya next month on a fact-finding mission.
Egyptian investors are looking to venture into
Kenya’s petrochemical industry following the discovery of exploitable
oil deposits in Turkana.
The Embassy of Egypt confirmed Thursday that about 40 companies would visit Kenya next month on a fact-finding mission.
“Kenya’s profile as the region’s hub continues to grow especially after the oil find. That is why the (Egyptian) firms are coming,” Tamer El-mahdy, a consul, said Thursday during the announcement of a three-day international trade fair to be held on November 19 in Nairobi.
The conference dubbed Kenya Chemex 2013 will see various companies that manufacture products derived from oil such as and plastics, paint, paper, cosmetics, machines and pharmaceuticals explore opportunities in Kenya.
The event has attracted household names in Egypt such as Lasheen, Egyplast, Mido Coating and Altawfiq that will also be looking for partnerships with Kenyan traders.
The trade fair will be held at the Kenyatta International Conference Centre in Nairobi and will be open to stakeholders in the petrochemical products sector.
Kenya’s oil find in Turkana County has elevated its status as an investment destination with global firms eyeing a piece of the local market.
In addition, the firms hope to leverage on Kenya’s strategic position in East Africa as a gateway into regional markets. Uganda discovered massive oil deposits in 2006 while Tanzania has reserves of natural gas.
The organisers — Kenya’s Global Conference
Solutions Limited and Egypt’s 2art Events and Exhibitions Company — said
that India and Morocco had also shown interest in the conference.
During the event the Kenya National Chamber of
Commerce and Industry signed a memorandum of understanding with
representatives from Egypt on boosting business ties
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