Kenya has secured more substantial trade and investment ties with China following high-level talks spearheaded by the National Treasury and Economic Planning Cabinet Secretary John Mbadi and China’s Minister of Finance Lan Fo’an.
The National Treasury in a statement said that Mbadi engaged with Lan Fo’an in a high-level meeting held in Beijing on Wednesday to discuss strengthening financial and trade ties between the two nations.
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“Kenya and China reaffirmed their commitment to deepening economic cooperation, with a focus on trade, infrastructure investment, and financial collaboration,” read part of the statement.
“The discussions centered on Kenya’s strategic priorities, including infrastructure, energy, and technology, which are key to accelerating the country’s economic growth.”
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According to the National Treasury, CS Mbadi emphasized the need for increased Chinese investment in these critical sectors, particularly in financing major infrastructure projects and enhancing bilateral trade.
Also Read: Kenya Secures Multibillion Loan From China
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The leaders also explored mechanisms to improve Kenya’s trade balance with China, seeking expanded market access for Kenyan exports, including agricultural and manufactured goods.
China remains Kenya’s largest bilateral creditor and a key trading partner with trade between the two nations surpassing $6.8 billion in 2023, according to the National Treasury.
“Kenya values its long-standing economic partnership with China, which has significantly contributed to our national development. We are keen to enhance trade terms and investment flows to create more opportunities for our people,” CS Mbadi stated.
Minister Lan Fo’an reiterated China’s commitment to supporting Kenya’s economic agenda, including financing infrastructure projects under the Belt and Road Initiative (BRI) and expanding cooperation in renewable energy and digital transformation.
Ksh1.8 billion grant
The meeting in which both Kenya and China reaffirmed their commitment to reinforce economic partnerships between them comes days after the former secured a Ksh1.8 billion grant to upgrade key hospitals nationwide.
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CS Mbadi and the Ambassador of the People’s Republic of China to Kenya, Guo Haiyan, signed the deal on March 27 at the Treasury Building.
The CS said the government will use the funds to upgrade several hospitals, including Londiani Referral Hospital, Baringo County Referral Hospital, Kilifi Hospital, Misikhu Hospital, Bildad Kagia Hospital, and Kaimosi Farmers Training College.
“This grant is a significant step in strengthening our healthcare infrastructure and ensuring quality medical services for all Kenyans,” he said during the signing ceremony.
In September 2024, during President William Ruto’s official visit to China, Kenya secured a Sh40billion loan from the Chinese government.
This funding will complete 15 stalled infrastructure projects across more than ten counties, aiming to boost regional development and economic growth.
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