Investors interested in Kenya

An increasing number of Chinese companies are seeking business opportunities in Kenya, amid the African country's efforts to push ahead with industrialization.

Chinese investors are eyeing sectors such as property, tourism, hotel and infrastructure construction in east Africa's largest economy.

Yu Wu, director of investment and business development at Beijing Hasan International Investment Management Co Ltd, told China Daily that Chinese firms are showing great interest in the country, especially in sectors related to tourism.

"Investing in Africa, including Kenya, has great potential and we feel lucky that we're going there earlier and have found many business opportunities," said Yu at the Kenya-China Investment and Business Forum, held in Beijing on Tuesday.

According to Yu, his company has already developed four property projects in Angola and one in Ghana, and is now mulling new opportunities in Kenya.

"Real estate and hotel companies are the most optimistic in Kenya, and we have seen many successful instances of Chinese companies there," said Liu Jianguo, executive director of agriculture and real estate investments at the China-Africa Development Fund.

CAD Fund is China's largest equity investment fund focusing on African investment, which is backed by the China Development Bank.

Industry leaders in Kenya include China Jiangxi Corp for International Economic and Technical Cooperation, Jingu Group and Fujian Construction Engineering Group, which have already invested in property and infrastructure projects there and have accumulated lots of experience.

Fred Simiyu, managing director at the Kenyatta International Convention Center, said that there's strong demand for conference facilities in the country.

"The convention market is very hot in Kenya, but the country only has one convention center, the Kenyatta International Convention Center, so demand greatly exceeds supply," Simiyu said.