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China’s Silk Factory Expected to Create Over 300,000 Jobs for Kenyans

BY Soko Directory Team · November 5, 2018 07:11 am

Guangdong Silk-Tex Group, the world’s largest producer of silk on November 4 said that it is planning to introduce the venture in Kenya.

The company’s officials met with President Uhuru Kenyatta in China where they agreed on setting up shop in Nairobi. The factory is to be built in Athi River, at the Export Processing Zone. If successful, the venture is expected to employ more than 300,000 Kenyans.

The company announced that it will establish a cocoon farm of about 8,237 acres of land, big enough to accommodate the whole silk value chain covering cocoon procurement, silk reeling, weaving, and trading.

President Kenyatta was in the country as one of the chief guests at the China International Import Expo and earlier in the day, he met with China’s President Xi and held talks on how to strengthen trade between Kenya and China.

During the visit, the Kenyan President also sat down with officials from Cherami China-Africa Investment Management – a company that looks into constructing a cancer treatment center in Kenya, in partnership with the University of Nairobi.

The cancer facility is to be built adjacent to the University’s dental school and it will be the biggest cancer center in the sub-Sahara region.

Cherami China-Africa Investment Management partnership with the University of Nairobi will also introduce capacity building for Kenyan cancer experts as well as an exchange program with universities from China.

The venture will also feature other Kenyan universities to create opportunities and explore how to realize greater agricultural value addition.

Among the Kenyan delegation in the meeting included the Vice Chancellor of the University of Nairobi, Prof Peter Mbithi. Officials from Cherami included the company’s director, Chen Ruibing and CEO Wei Xiaolin.

The import expo China is hosting was attended by hundreds of companies and individuals from 130 countries from various sectors of the economy.

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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