The British Chamber of Commerce Kenya (BCCK) and Jersey Finance have committed to support new and critical waves of investment that will attract capital and create jobs in Kenya and Africa.
Jersey Finance Director for Middle East, Africa and India Faizal Bhana said the commitment forms part of its strategy to expand its African investment portfolio.
“Africa is a key part of Jersey Finance’s strategy, and East Africa is a focus region for us. Kenya, as the largest economy in East Africa, is an important jurisdiction for Jersey. Over many decades, Jersey’s international finance centre, has built strong connections with Africa by supporting both inbound and outbound investment for private and institutional investors. Many businesses in Jersey have existing relationships on the continent,” he said.
According to Bhana, more than fifty finance firms in Jersey are already working with clients and businesses in Africa.
“The British Chamber has experienced significant growth over the years. We line up a series of networking events such as this most recent one held with Jersey Finance, trade missions, and other activities for our members in Kenya. Just recently, we, together with Kenya’s Ministry of Investments Trade and Industry (MITI) signed a Memorandum of Understanding to promote market access and business integrity. An expression of our dedication to Kenya and its financial growth,” added Farida Abbas, BCCK Chief Executive Officer.
Statistics indicate that that the UK is the largest European foreign investor in Kenya with at least 150 British investment companies based in Kenya, valued at more than Ksh 247 billon (£1.28 billion).