City Businessman Mwaniki Munuhe has been named Vice President in charge of Africa Operations of a Sh91billion (US Dollars 760million) investment project.
The announcement was made during the groundbreaking ceremony of the Turkish special economic zone SEZ Limited in Naivasha.
The event was presided over by President Uhuru Kenyatta.
The revolutionary project is owned by a Turkish manufacturing conglomerate.
“We have full confidence that Munuhe is more than equal to the task that we are bestowing on him today as Kenya marches into the 21st Century, a young, strong and vibrant nation is needed for the glory of Kenya,” said Dr Abdulhakim Alic, Vice President of Turkish Industry holding.
The project will boost foreign exchange by exporting locally produced finished products to the global market and also to provide foreign currency input through high technology and raw material advantages as well as leveraging on the Africa Continental Free Trade Area.
Munuhe will be in charge of Africa. He is the first African to be appointed to this type of role in the Corporation’s history.
Speaking during the ceremony Dr Abdulhakim Alic, Vice President of Turkish Industry holding expressed his gratitude to His Excellency, President Uhuru Kenyatta, whose determination, dedication to national duty and persistence, has made this investment a reality.
“Kenya and Turkey share common values; the spirit of enterprise, hard work, dedication, and national pride. These are the essential ingredients for any country to develop irrespective of whether it has natural resources or not. Our motivation was driven in part by the fact that there is a very high level of skills in Kenya in every field that will be required for these factories,” added Dr Abdulhakim.
“Investera Plus Africa Limited commends this milestone as a key contribution to the future sustainability of the country and the citizens at large and as a business resource centre that brings together businesses. The government and investors from across the world are happy to have been part of Turkish Industry Holding exciting journey to Kenya,” said Tito Mutai, Executive Director, Investera Plus Africa
The investment is said to cost Sh91billion (US Dollars 760million) and will take place in an open area of 1,3500,000 m2 and a closed area of 385,000 m2 . It will include six factories, administration buildings, auxiliary businesses and a technical school.
The factories are set to directly employ 2,860 people with an additional 45,000 people benefiting indirectly. It is estimated that the investment will add US Dollars 550million in economic value to the Kenyan economy annually.
The factories will export 70 per cent of their production and earn US Dollars350million in foreign currency every year boosting Kenya’s economy.
The factories are earmarked for the manufacture of ceramics and granite tiles, sanitary towels, toilet paper and towel napkins, MDF and parquet tiles, iron and aluminum profile manufacturing.
As part of the local content development, there will be a vocational technical school where they will train qualified personnel (intermediate staff) who will be employed in the industrial facilities.
The occasional technical school will have 250 students studying for two days a week and do internships at the factories for three days a week.