Qatari investors commit to fund multi-billion State enterprises

Wednesday, June 7th, 2023 08:40 | By
Qatari investors commit to fund multi-billion State enterprises
Trade CS Moses Kuria at a past conference. PHOTO/Courtesy

Qatari investors have committed to fund three multi-billion dollar projects targeting Kenya Kwanza administration’s flagship projects.

Trade Cabinet Secretary Moses Kuria said the move follows a meeting at State House in Nairobi where the Arkan Investment Group pledged to support proposed projects, including Kileleshwa City and the Nairobi Pesa City Financial District.

Kuria said the investors have consented to contribute funds to the Sh30 billion Railway City project’s development in Downtown Nairobi.

“I was delighted to be invited to a meeting at State House Kenya with President Ruto and the chairman of the Arkan Investment Group from Qatar, Mohamed Bin Tawar,” Kuria said.

Billionaire investors

“The Arkan Investment Group has pledged to invest in the planned Kileleshwa City, the Nairobi Pesa City Financial District, the affordable housing, and Downtown Nairobi at Railway City, according to the statement,” the CS said in a tweet.

Arkan Investment Group, Middle East, (AIG-ME) is a well established and diversified business group with operations and presence across many countries and jurisdictions.

Established more than four decades ago, it currently operates across MENA, Asia, Europe, and USA with interests in Telcom, oil and gas, healthcare, private jets, hospitality, fintech among others.

Mohamed Bin Tawar, the group chairman of Qatar led the delegation’s net worth is estimated at around Sh100 billion.

Jaber Bin Ali Al Dosari, the ambassador of the State of Qatar to Kenya, was also present at the meeting.

While acknowledging Ruto’s efforts to address the issue of cheap housing, the investors also pledged investment in that area, although they did not specify how much money they will contribute. The government targets to build in excess of 200,000 houses to bring down the housing defict in the country.

Kuria and Bin Tawar, who is also the founder of the Bin Twar & Partners Group, had several meetings before the discussions at State House.

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