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Report: Kenya Convention Market ‘Hot’ But Needs More Conference Centers

Report: Kenya Convention Market ‘Hot’ But Needs More Conference Centers

Demand exceeds supply for conference facilities in Kenya, and some Chinese investors are eyeing tourism, hotel and infrastructure construction in East Africa’s largest economy, according to a report in ChinaDaily.

“The convention market is very hot in Kenya, but the country only has one convention center… so demand greatly exceeds supply,”said Fred Simiyu, managing director at the Kenyatta International Convention Center, Kenya’s one and only.

Kenya’s tourism resources make it a good choice for conventions, Simiyu said. In 2012, the country played host to 288 conventions, including 29 international ones.

Chinese companies are showing interest in Kenya, especially in tourism, according to Yu Wu, director of investment and business development at Beijing Hasan International Investment Management Co. Ltd. Yu spoke at the Kenya-China Investment and Business Forum held Tuesday in Beijing.

His company has developed four properties in Angola and one in Ghana, and is now considering opportunities in Kenya.

“Real estate and hotel companies are the most optimistic in Kenya,” said Liu Jianguo, executive director of agriculture and real estate investments at the China-Africa Development Fund. The fund, backed by China Development Bank, is China’s largest equity investment fund focusing on African investment.

Leading Chinese companies that have invested in property and infrastructure in Kenya include China Jiangxi Corp for International Economic and Technical Cooperation, Jingu Group and Fujian Construction Engineering Group.

Besides Nairobi, the coastal cities of Mombasa and Kisumu would be good places to build convention centers, Simiyu said.

China is Kenya’s second-largest trade partner. Annual growth of bilateral trade between the two countries has averaged 30 percent in recent years, totalling $2.84 billion in 2012, according to the Embassy of China in Kenya.

In the first half of 2013, China’s direct investment in Kenya was $474 million.