Ruto Witnesses Signing of Investment Deals Worth Over $1B in China
During the Kenya-China Investor Roundtable in Beijing on 23 April 2025, Kenyan President Ruto witnessed the signing of several deals. The deals included textile, agriculture, manufacturing and the total estimated value of the investment projects exceeds USD one billion (KSH 107 billion). The event was organized by the Kenyan Ministry of Investments, Trade and Industry and the Kenya Investment Authority (KenInvest).
| No. | Investor | Project | FDI $M |
|---|---|---|---|
| 1 | Zonken Group | Aloe Cultivation and Processing | 400 |
| 2 | Chongqing Shangcheng Apparel | Textile and PV Panel Plants | 300 |
| 3 | Wu Yi | Kikambala SEZ | 150 |
| 4 | Rongtai Steel | Steel Manufacturing Plant | 100 |
| 5 | Anhui Jiubao Electronic Technology | Smart Traffic Components Factory | 50 |
| 6 | Shangdong Jialejia | Chicken Farm | 30 |
| 7 | Hunan Conference Exhibition Group | Hotels and Conference Venues | 23 |
| TOTAL | 1053 |
In his keynote address, President Ruto underscored that Kenya is open for business and his country is well positioned to be the gateway to East Africa. He highlighted agriculture, housing & construction, tourism, as hot sectors ready for investment. Compared to previous engagements, it is worth noting that this event saw the enthusiastic participation of the Chinese private sector. Chinese companies now see Africa as more attractive as doors elsewhere are slammed shut.
Observers noted that the multi-billion dollar extension of the Standard Gauge Railway (SGR) from Mombasa to Nairobi will probably be also on the bilateral cooperation agenda. The Mombasa-Nairobi rail is a flagship project under China’s Belt and Road Initiative (#BRI) and ties in with the gateway function of Kenya. Other major infrastructure development projects discussed include the Nairobi Expressway, the Thika Superhighway, and the Lamu Port, which is the starting point of the LAPSSET #EconomicCorridor.
In addition, as a gift to mark the 60th anniversary of diplomatic ties established in 1963, China is willing to finance and build the new Foreign Affairs headquarters for Kenya. The financing from China is in the form of a grant which will cover part of the cost of the project.
In May 2024, a Chinese technical visited Nairobi to start work on the design and feasibility. In addition, China provided a KSH 1.8 billion ($14M) grant to Kenya to modernize its hospitals.
Critics alleged the project value of the Mombasa-Nairobi #SGR was overblown, thus saddling Kenya with an extremely heavy debt load for many years. However, both the Chinese and Kenyan governments have refuted such claims of ‘debt trap.’
Furthermore, allowing a foreign power to finance and build one’s Foreign Affairs Ministry infrastructure is also perceived as signaling a foreign policy shift toward China. Some analysts advocated that a balancing between the US and China might be a better strategy for Kenya.
During his state visit to China, President William Ruto met with President Xi Jinping and Premier Li Qiang. The China-Kenya relation was elevated to a ‘Comprehensive Strategic Cooperative Partnership’. Both sides reiterated the desire to deepen the partnership and to make the China-Kenya relationship into a model for the #GlobalSouth.