Kenyan investors eye Chinese market
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Over 100 Kenyan investors are set to visit China in mid-October to explore investment opportunities in the Asian nation, trip organizers said on Friday.
The trip, sponsored by the Kenya Commercial Bank (KCB), aims at exposing the bank's small and medium-size entrepreneurs and real estate developers to international business and enabling them to learn from more established counterparts in the emerging Asian and world's economic giant, they said.
"This second trip to China is as a result of the good feedback we got from customers who travelled to Canton Fair last year and we have arranged for this trip to coincide with this year's Canton International Fair," KCB Divisional Director for Retail Banking Catherine Njoroge told journalists in Nairobi.
The trip is organized by the bank for its SME customers. Last year the bank took the same number of customers to Guangzhou, a business hub in south China.
The bank will also take some of its real estate customers who are members of S&L Developers Club. KCB's Savings and Loans Managing Director Caroline Kariuki said China provides a myriad of opportunities to players in the real estate sector.
"In the debut trip to for the S&L Developers Club we have decided to join hand with Biashara Club Members to make a joint trip," she said.
Kariuki said the trip will give the bank's Club Members the opportunity not only to source for building materials but also to see modern architectural designs which we hope they'll be able to transfer to Kenya upon their return.
"They will also have the opportunity to explore more opportunities in other areas of business and even network with the Members of the Biashara Club," said Kariuki
As part of the itinerary, the entrepreneurs will have an opportunity to attend China's 105th Export and Import Trade Fair ( The Canton Fair),hold meetings with business people and make contacts and purchases. Entrepreneurs will be privileged to visit a number of trade exhibitions in China.
Some of the areas the group will visit include ceramic fitting, sanitary ware, furniture, wardrobe, kitchen fitting, textile, roofing materials,electronics, building materials among others.
"The prices of most of the materials are reasonably cheap and we hope the entrepreneurs will pass over the benefits to buyers of these units when they bring them home," organizers said.
"This will in turn help bring down property prices and make housing more affordable to Kenyans," Kariuki said.
This is the fourth international trip since the launch of KCB Biashara Club. Besides China, the club sponsored a trip to Dubai late last year.
In July this year, about 70 Biashara Club members visited Malaysia,Singapore and Thailand.
"These international trips are an accomplishment of the promise we made to our Biashara Club customers of "not business as usual" during the launch of the Biashara Club. As a bank we see our SME clients as partners in business who deserve the best in terms of availing opportunities to help them grow with us," Njoroge said.
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