KENYA’S industrial and export ambitions have received a major boost as the African Export-Import Bank (Afreximbank) has committed to financing the development of industrial parks (IPs) and special economic zones (SEZs) across the country. The initiative, which was formalised at a signing ceremony in Mombasa, aims to enhance manufacturing, value addition, and export capacity, aligning with Kenya’s Vision 2030 strategy.
The key projects under this agreement include the Dongo Kundu Integrated Industrial Park in Mombasa and the Naivasha Special Economic Zone II (Naivasha II), both of which are expected to drive industrial expansion and create employment opportunities.
Driving industrialisation through SEZs
Afreximbank, in partnership with Arise Integrated Industrial Platforms (Arise IIP), will oversee the development of these economic zones, ensuring they are equipped with world-class infrastructure to attract investors and boost export manufacturing. The projects will leverage economies of scale, shared infrastructure, and access to global markets, positioning Kenya as a regional trade and manufacturing hub.
Kenyan President William Ruto described the agreement as a turning point for the country’s industrial agenda.
‘We have a responsibility to harness the immense potential of manufacturing, industrialisation, and agro-processing. This investment is a vote of confidence in Kenya’s future, opening up opportunities to expand our industrial sector and make Kenya an attractive destination for investment,’ he stated.
Afreximbank’s vision for Africa’s economic independence
Speaking at the signing, Afreximbank President Prof. Benedict Oramah underscored the need for Africa to move beyond exporting raw materials and instead build industries that generate long-term economic value.
‘For decades, Africa has exchanged its wealth for aid and loans, keeping us on the fringes of global prosperity. Today, Kenya takes a bold step to reshape this story. These industrial parks will serve as a foundation for long-term economic transformation,’ Oramah said.
The projects reflect a broader push for self-sufficiency and reduced dependency on foreign aid, as African nations seek homegrown solutions for economic growth.
Strategic industrial zones to boost Kenya’s economy
The Dongo Kundu Integrated Industrial Park within the Mombasa SEZ is expected to become a major economic driver for the coastal region. It will feature state-of-the-art facilities to attract local and international investors, further integrating Kenya into global supply chains.
Meanwhile, Naivasha II Special Economic Zone, located in Mai Mahiu, will cover 5,000 acres and include:
- A free trade zone,
- An industrial park,
- A logistics hub, and
- A public utility area with a supporting road network.
Naivasha II’s strategic location along the Northern Corridor—serving Kenya, Uganda, Rwanda, South Sudan, Burundi, and the Democratic Republic of Congo—is expected to enhance trade and export efficiency. Its proximity to the Naivasha Inland Container Depot will improve logistics, making it easier for businesses to export goods across Africa.
A turning point for Kenyan industry
These investments align with Kenya’s Fourth Medium-Term Plan (2023-2027) under the Bottom-Up Economic Transformation Agenda. By promoting value-added manufacturing, these projects will create thousands of jobs and stimulate economic diversification.
With Africa shifting towards industrial-led growth, initiatives like these signal a move away from aid dependence and towards long-term economic resilience. Afreximbank’s commitment to financing Africa’s industrial future marks a critical step in reshaping the continent’s economic landscape.
