Sunday, October 27, 2024 – China‘s Hexing Group has announced a $10 million
(Sh1.29 billion) investment to establish a local assembly line in Kenya for
power products previously imported from its manufacturing plant in China.
The funds will also support a
new office in Nairobi, aimed at capturing emerging opportunities within Kenya
and the broader East African region.
According to Zhou Xiping,
Hexing’s Regional CEO for East Africa, the new facilities are expected to
create 100 jobs within the year, boosting local economic growth.
“Hexing is excited to expand our
footprint in Kenya, a country that serves as the hub of the East African
economy and possesses immense potential for development and market
opportunities,” Zhou stated.
Zhou emphasized that the
investment is a key step in providing innovative energy solutions to the
region.
“We anticipate that this new
base will not only create employment for the local community but also stimulate
economic growth and deliver advanced solutions for smart power distribution,
water management, and emerging energy markets in East Africa,” he added.
The Kenyan DAILY POST
