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“Kenya at the 30th Olympiad�

Kenya Investment Summit

a presidential investment summit hosted by

he hon mwai kibaki c.g.h, m.p, president and Commander-In-Chief of the defence Forces of the Republic of Kenya

Tuesday 31 July 2012 Mansion House London, UK


Kenya Investment Summit 31 July Mansion House, London

Delegation •

His Excellency, the Hon. Mwai Kibaki, MP, President of the Republic of Kenya

MINISTERS • • • • • • • •

The Hon. Prof. Sam Ongeri MP Minister for Foreign Affairs The Hon. Wycliffe Oparanya MP Minister of State for Planning, National Development and Vision 2030 The Hon. Moses Wetangula MP Minister for Trade The Hon. Amos Kimunya MP Minister for Transport The Hon. Kiraitu Murungi MP Minister for Energy The Hon. Soita Shitanda MP Minister for Housing The Hon. Samuel Poghisio MP Minister for Information and Communication The Hon. Danson Mwazo MP Minister for Tourism

PERMANENT SECRETARIES • • • • • • • • • • •

Mr. Thuita Mwangi, Permanent Secretary, Ministry of Foreign Affairs Mr. Joseph Kinyua, Permanent Secretary, Ministry of Finance Dr. Edward Sambili, Permanent Secretary, Ministry of Planning, National Development and Vision 2030 Eng. Abdulrazaq Adan Ali, Permanent Secretary, Ministry of Trade Mr. Patrick Nyoike, Permanent Secretary, Ministry of Energy Dr. Bitange Ndemo, Permanent Secretary, Ministry of Information and Communication Eng. Michael Kamau, Permanent Secretary, Ministry of Roads Mr. Tirop Kosgey, Permanent Secretary, Ministry of Housing Ms. Leah Adda Gwiyo, Permanent Secretary, Ministry of Tourism Dr. Engineer Cyrus Njiru, Permanent Secretary, Ministry of Transport Dr. Jacob Ole Miaron, Permanent Secretary, Ministry of National Heritage and Culture

BUSINESS AGENCIES AND ORGANISATIONS •

Vision 2030 Delivery Secretariat

Kenya Commercial Bank

Kenya Railways Corporation

Nairobi Stock Exchange

National Housing Corporation

Capital Markets Authority

Tatu City

Kenya ICT Board

Kenya Airports Authority

Geothermal Development Corporation (GDC)

Brand Kenya Board

Kenya Electricity Generating Company

Kenya Investment Authority

Kenyatta International Conference Centre

National Oil Corporation of Kenya

Central Bank of Kenya

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Kenya Investment Summit 31 July Mansion House, London

WELCOME STATEMENT BY HIS EXCELLENCY THE HON. MWAI KIBAKI, PRESIDENT OF THE REPUBLIC OF KENYA On my own behalf and on behalf of the Government and the people of Kenya, I convey our warm greetings to you all. I take great pride in Kenya’s participation at the summer 2012 London Olympic Games and the Paralympics Games thereafter. As a committed Member of the Olympics fraternity, Kenya is proud to be not only the cradle of great Olympic athletes but also Africa’s leading athletics nation. The country has over the years won several world records in long distance athletic events. The Government of Kenya has laid out an elaborate programme to take advantage of our presence at the summer Olympics to reach out to the global trade and investment audience. To achieve this, the Government of Kenya and its partners will be co‐hosting an Investment Summit seeking to attract Interna‐ tional Investment capital into our country. I am particularly happy that the Lord Mayor of the City of Lon‐ don has agreed that this Investment Summit be held at his official residence at the Mansion House. The Kenya Investment Summit will be held on July 31st 2012 and will focus on specially selected bankable projects envisioned in our development blue‐print, Kenya Vision 2030. Over ten eminent speakers and panellists, and nearly 200 delegates are expected to attend. The Summit, the first of its kind in London, will provide an extraordinary opportunity for investors, businesses executives and government officials to network and take part in a comprehensive dialogue geared to understanding the business and investment climate in Kenya and to enhance Foreign Direct Investment. On behalf of the Government of Kenya I look forward to welcoming you to this Summit, and also to the Kenya House, in Stratford city, near the Olympic Park where Kenya is showcasing her unique culture, art and other endowments. I join the co‐hosts of the Investment Summit, the Right Honourable Alderman David Wootton, The Lord Mayor of the City of London and Sir Alan Collins, Director General of the Commonwealth Business Council in welcoming you. “KARIBUNI” ‐ WELCOME 3


Kenya Investment Summit 31 July Mansion House, London

MESSAGE FROM ALDERMAN DAVID WOOTTON THE RT HON THE LORD MAYOR I am delighted to welcome His Excellency the President of Kenya, The Hon Mwai Kibaki, and all our partners and visitors from Kenya to the Mansion House for this important event. This Summit represents a great opportunity for Kenya and the City of London to develop further their partnership. I look forward to welcoming the President and his Ministers and providing a forum for engagement between Kenya and the City of London. We are glad to be working with the Commonwealth Business Council to facilitate this dialogue. The City of London remains the world’s pre‐eminent financial centre and provides the whole cluster of people and services that can help make Kenya’s ambitious Vision 2030 Development Plan into reality. The City is no stranger to Kenya: last year my predecessor as Lord Mayor, Alderman Sir Michael Bear, led a high profile business delegation to Nairobi and other centres, establishing solid relationships with Government, business and trade bodies alike. The City has been impressed with the progress made by Kenya since then, in its economic growth and the development of the business and services sectors, but also in laying firm foundations for the transformation of its infrastructure, its energy sector and in urban development projects. We all look forward to hearing more about these developments at the Summit. I am confident that this investment summit will take that work further and lead to further fruitful co‐operation between the Government of Kenya and the City of London.

MESSAGE FROM PETER LONGWORTH, DIRECTOR‐ GENERAL, COMMONWEALTH BUSINESS COUNCIL The world is gathering in London for the Olympic Games with African nations in buoyant form, reflecting remarkable rates of economic growth and rising living standards. The Games provide a fitting backdrop for Kenya, triumphant in sport, and the message from His Excellency President Mwai Kibaki to the international business community on his nation’s own impressive performance, its economic and investment priorities and the specific project opportunities which they offer. The Commonwealth Business Council is proud to be associated with His Excellency’s visit to London and to be working with the Lord Mayor of London in the world’s finance and business hub to support a major player in the African renaissance. Central to the work of this Summit is the Kenya Government’s Vision 2030 programme for economic development which draws together the social and economic policies essential for eliminating poverty through investment‐driven job‐creation. The CBC is confident that, given an ongoing commitment to reform and innovation, Kenya is ready to make the next major step forward in expanding and diversifying its economy. The themes for discussion at the summit reflect the key priorities and the strong participation of the President and senior Ministers confirm the Government’s commitment to delivery. The CBC looks forward to working with His Excellency and the Kenyan public and private sectors in furthering their objectives and sharing in Kenya’s success.

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Kenya Investment Summit 31 July Mansion House, London Kenya Vision 2030 Investor—Ready Projects Case Study: Kenyan Airports Modernization Kenya Airports Authority Jomo Kenyatta International Airport (Greenfield Airport Terminal) This new terminal building will have capacity for 20 million passengers per annum and will provide connectivity for transiting passengers with 50 international and 10 domestic check‐in stations, 32 contact and 8 remote gates, and an associated apron with 45 stands and linking taxi ways. New airport develop‐ ments investment opportunities in Isiolo and Lamu and expansions for Mombasa and Kisumu airports

Case Study: Commuter Rail and Railway City Kenya Railways Corporation This project will provide for expanded, safe, affordable, and efficient rail commuter services in Nairobi with the additional benefit of decongesting the capital city’s roads. In addition, the initiative will include the redevelopment of existing rail stations into mini cities which include business parks for light manufacturing, hotels, shopping arcades, restaurants, and parking garages.

Case Study: Konza Technology City Ministry of Information and Communication Konza Technology City, will be developed on a Greenfield site 60kms from Nairobi, easily accessible via the major Mombasa Nairobi Highway. Kenya’s vision for the project, centrally positioned within a regional population hub of 110 million, is to create 200,000 in business processing outsourcing services and related sectors over 20 years.

Case Study: Urban Toll Road Kenya National Highway Authority Multiple toll road project investment opportunities including the construction of an elevated road section through the Nairobi Central Business District. The project will also include the extension of a dual carriageway to the proposed ICT City at Konza (50km from the capital) and the construction of four interchanges as well as tolling and maintenance operations for 30 years. Others include LAPSSET & Northern Corridors/ Thika Road – (1) Construction of 1,350 kms of 2‐ lane highway on the Lamu Port ‐ Southern Sudan ‐ Ethiopia corridor (2) Upgrading the Northern Corridor over 910 kms to 4 ‐ lane dual carriageway (including Seven (7) Interchanges) (3) Tolling and maintenance of Nairobi‐Thika Road.

Case Study: Lamu Port, Southern Sudan, Ethiopia Transport Corridor (LAPSSET) Ministry of Transport Diverse investment opportunities within the largest infrastructure and multi‐billion dollar project in Africa‐ LAPSSET corridor, which consists of seven components: (1) Dual carriage highway between Lamu port to Isiolo, to Ethiopia. (2) 1500 KM 1M Stan‐ dard Gauge Rail (3) Oil Refinery (4) Oil Pipeline (5) Airports in Lamu and Isiolo (6) resort Cities (7) Lamu Port.

Case Study: Mombasa Convention Centre Ministry of Tourism Entails the development of a multi–purpose Convention Centre, with a contemporary design in Kenya’s second largest and sea‐ port city – Mombasa. Project combines several conference Centre’s under one roof to accommodate high demands from more than 54% of total number of tourists visiting Kenya; domestic and international meetings and events.

Case Study: High Grand Falls Multipurpose Dam Tana River Development Authority/Ministry of Regional Development Entails upgrading of the High Grand Falls with a catchment area extending to 100,000 SKM. Contribution of 20% to national population (agriculture), Irrigation Development‐expansion of up to 150,000 hectares and Power Generation to increase from 453MW to 800MW.

Case Study: Drilling of 900 Geothermal Wells in Kenya’s Great Rift‐Menengai 150 wells 600 variable quantity Kenya Electricity Generating Company ltd (KENGEN) and Geothermal Development Company Construction of 3,200MWe power plants by 2016. 1,000 MWe by 2014, 2,200MWe by 2016. Provision of reliable base‐load elec‐ tricity supply, reduced cost of electricity to improve economic competitiveness. Reduced Country reliance on imported fossil fuels and weather‐dependent hydro. Mitigate climate change and increase electrification access and reduce poverty. Cost is $525 million Expected Rate of Return on investment is 15.6%

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Kenya Investment Summit 31 July Mansion House, London Forum Programme JAMBO! Enjoying high growth, rapid sector development, a vibrant services and financial sector underpinned by an innovative business community and workforce, Kenya offers unprecedented opportunities for international and regional investors. The Govern‐ ment’s Vision 2030 Development Plan, designed to promote sustained economic growth and social development, will be sup‐ ported by major infrastructure, power and energy projects and a surge in urban development. While global institutional investors plan to boost their asset allocation in African markets, they are shifting from speculative to sustainable long‐term strategies creating a competitive environment, which plays directly to the strengths, diversity and potential of the Kenyan economy. A delegation of Ministers, senior officials and business executives will visit London, as the global centre of investment, business and finance, to present Kenya’s investment priorities and outstanding project opportunities. The Summit will feature in‐depth round table discussions on energy, infrastructure and transport corridors, housing and urban development, information & com‐ munications technology.

0830‐0900 0900‐1015

Registration Welcomes & Introduction Peter Longworth CMG, Director‐General, Commonwealth Business Council His Excellency Mr Ephraim W. Ngare, High Commissioner of Kenya to the UK Alderman David Wootton, The Right Honourable The Lord Mayor of the City of London Hon Henry Bellingham MP, Parliamentary Under‐Secretary of State, Foreign & Commonwealth Office Hon. Prof. Sam Ongeri, Minister for Foreign Affairs, Republic of Kenya Keynote Address by His Excellency the Hon Mwai Kibaki, MP, President of the Republic of Kenya

1015‐1030 1030‐1100

Networking Break Overview: Investment Climate—Macro Economic Status

Chair: Speakers:

TBC Mr. Joseph Kinyua, Permanent Secretary, Ministry of Finance

1100‐1130

Financial Services—A Private Sector Perspective :

Chair: Speaker:

Alderman Alan Yarrow, Chairman, Chartered Institute for Securities & Investment Dr. Martin Oduor‐Otieno, Chief Executive Officer, KCB Group

Project Profiles:

Opportunities in the Nairobi International Financial Centre

1130‐1230

Vision 2030: Ready‐to‐invest Projects

Chair: Speakers:

TBC Mr. Mugo Kibati, Director General, Vision 2030 Delivery Secretariat

Discussants: Hon. Wycliffe Oparanya, MP, Minister of State for Planning, National Development and Vision 2030 Hon. Moses Wetangula, MP, Minister for Trade Dr Manu Chandaria, Chairman, Comcraft Group of Companies (Kenya)

1230‐1400

Networking Lunch

1400‐1530

Sector Roundtables Information & Communications Technology Ongoing liberalization and privatization offer important investment opportunities to private investors, particularly in the information technology and telecommunications sectors. Investors possessing the necessary skills in those sectors can form joint ventures, particularly for the provision of cellular phones and internet services. This session will examine the investment requirements for this sector. Fibre optics, broadband and information transfer will be major components discussed.

Chair: Speakers:

TBC Dr. Bitange Ndemo, Permanent Secretary, Ministry of Information and Communication

Discussants: The Hon. Wycliffe Oparanya, MP Minister of State for Planning, National Development & Vision 2030 Mr. Paul Kukubo, Chief Executive Officer, Kenya ICT Board Dr James Mwangi, CEO, Equity Bank Kenya Commercial Bank Project Profiles:

Current and prospective opportunities in Information and Communications Technology, and Konza ICT City

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Kenya Investment Summit 31 July Mansion House, London Forum Programme Infrastructure and Public Private Partnerships The development of transport infrastructure holds the key to effective socio‐economic development of the country. In order to achieve this, it is proposed to improve the network by undertaking several projects. Potential opportunities exist in the form of developing airports, road networks, ports etc to cater for the ever‐ increasing passenger volumes and the growth of traffic. This session will examine the investment requirements for this sector and the current and potential growth. It will look at how the financial community can get more involved to progress the development of the sectors and analyse the current risks and challenges. Chair: Speakers:

TBC Dr. Eng. Cyrus Njiru, Permanent Secretary, Ministry of Transport Mr Anthony Sykes, Head, Infrastructure & PPP, SMBC Europe

Discussants: Hon. Amos Kimunya, MP, Minister for Transport Eng Michael Kamau, Permanent Secretary, Ministry of Roads Mr Nduva Muli, Managing Director, Kenya Railways Corporation Mr Gichuki, Kenya Airports Authority Kenya Commercial Bank Project profiles:

Projects in Lamu Port South Sudan Ethiopia Transport and Development Corridor (LAPSSET), Kenya Railways, Jomo Kenyatta International Airport, Roads and Ports.

1530‐1600

Networking Break

1600‐1730

Energy and Public Private Partnerships Over the past five years Kenya‘s demand for electricity has grown by 10% annually, while supply has grown by 8%. According to the Ministry of Energy, demand is expected to grow by 7% annually over the next 10 years, reaching 3,066 MW by 2018 and 4,647 MW by 2022. The Government would like to see the private sector construct its first medium‐sized nuclear plant by 2015. Investors would be offered a 30‐year power purchase agreement on a Build‐Own‐Operate‐Transfer (BOOT) arrangement

Chair: Speakers:

TBC Mr. Patrick Nyoike, Permanent Secretary, Ministry of Energy

Discussants: Hon. Kiraitu Murungi, MP, Minister for Energy Mr Silas Simiyu, CEO, Geothermal Development Corporation CEO, Capital Markets Authority Mr Galib Virani, Director, Afren Project profiles:

Current and prospective opportunities in the Energy sector (Geo‐thermal and wind energy)

Real Estate, Social Infrastructure & Tourism Social infrastructure remains a challenge in many African countries and Kenya is not unique. This session will identify development projects that will include housing, waste management, water and sewage infrastructure, medical service and education. Access to decent housing is now enshrined in the Constitution as Citizens’ Right. In the recent past, Government has been undertaking massive slum upgrading programmes, but we are still a long way off. We are therefore seeking Foreign Direct Investment in providing at least 200,000 housing units per year. Chair: Speakers:

TBC Mr. Tirop Kosgey, Permanent Secretary, Ministry of Housing Mary Ann Jordan, CEO, Kenya Tourism Development Corporation

Discussants: Hon. Soita Shitanda, MP, Minister for Housing Ms Cecil Mbarire, Assistant Minister for Tourism Ms Leah Adda Gwiyo, Permanent Secretary, Ministry of Tourism Mr Makawiti, CEO Kenyatta International Conference Centre Mr Muriithi Ndegwa, Managing Director, Kenya Tourism Mr Stephen Jennings, Tatu City Project profiles:

1730‐1800

Overview of the housing and real estate sector: Current and prospective opportunities and challenges; investment opportunities in the tourism sector: Resort Cities, and Mombasa Convention Centre.

Plenary Concluding Remarks Dr. Edward Sambili, Permanent Secretary, Ministry of Planning, National Development and Vision 2030

1800‐1830

Reception

1830‐2130

Gala Dinner hosted by HE Hon Mwai Kibaki, President of the Republic of Kenya

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Kenya Investment Summit 31 July Mansion House, London

HE President Mwai Kibaki, Republic of Kenya and Dr Mohan Kaul, Co-Chair, CBC

Dr Mohan Kaul, Co-Chair, CBC, Rt. Hon. Raila Odinga, Prime Minister of Kenya and Lord Malloch Brown Former Minister for Africa, UK

Register today at www.cbcglobal.org Commonwealth Business Council, 18 Pall Mall, London, SW1Y 5LU, United Kingdom

Delegate Enquiries

Programme & Sponsorship Enquiries

E: vasundhara.puri@cbcglobal.org

E: peter.longworth@cbcglobal.org

T: +44 (0) 20 7024 8208

T: +44 (0) 20 7024 8241

Press Enquiries E: sean.leno@cbcglobal.org T: +44 (0) 20 7024 8209

Michael Mandu—Kenya High Commission E: kenyacommtrade_london@fsmail.net T: 020 7636 2371 Ext 202

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