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Nairobi, October 30, 2008

President Mwai Kibaki views the model of the Sameer Business Park during the laying of the foundation stone at Enterprise/Mombasa road junction, Nairobi. Looking on are Chairman, Sameer Group of companies, Mr. Naushad Merali (R), Deputy Prime Minister and Minister for Trade, Hon. Uhuru Kenyatta and Internal Security Minister Prof. George Saitoti.

Kenya can become a business process outsourcing destination in Africa, says President Kibaki

The Government is determined to make Kenya the top business process outsourcing destination in Africa over the next five years as a means to address unemployment in the country.

President Mwai Kibaki, who was speaking while laying the foundation stone for Sameer Business Park along Mombasa road today, noted that the Government under vision 2030 flagship projects aims at investing in business process outsourcing parks with world first class infrastructure geared towards attracting global business in Kenya, which has enormous potential for employing thousands of youth if given a chance to grow and develop in the country.

Noting that the Government was building infrastructure in all parts of the country, the President urged investors to spread their business interests in all the eight provinces of the country to ensure equitable job distribution and business opportunities to Kenya ’s youth.

President Kibaki commended the Sameer Group of Companies and its management for the hefty investment estimated at over 2.2 billion shillings which he said would mitigate the serious unemployment situation in the country.

“This investment is therefore a valuable addition to their business portfolio. But more importantly, the construction of this park will create many jobs for the youth now, and thousands more when it becomes operational. I am emphasizing job creation for the youth because we now have over 3 million unemployed youth and twice as many underemployed elsewhere,” said the Head of State.

The President also appreciated the role of private sector in generating enough jobs for the youth and urged them to take advantage of the innovative strategies initiated by the Government for creating employment because it is the most sustainable method.

President Kibaki particularly thanked Sameer Group of Companies for investing in Business Process Outsourcing in one of the main business lines which had the potential to employ thousands of Kenya ’s youth.

“The Government, under the Vision Twenty Thirty flagship projects also plans to invest in a Business Process Outsourcing park in Nairobi with world class infrastructure geared at attracting global businesses to Kenya ,” said President Kibaki.

The President said that the Government was improving on roads, seaports, electricity, water, communications, railways and other supporting infrastructure that will enable the various sectors of the economy including ICT to thrive and create jobs for the youth.

The Head of State also noted Kenya is posed to become an even more attractive investment destination following negotiations among three regional blocks to create a pan-regional free trade area of an estimated 650 million people.

President Kibaki said that a tripartite Summit held last week in Uganda paved way for establishment of a free trade area among members of the East African Community (EAC), the Common Market for Eastern and Southern Africa (Comesa) and the Southern Africa Development Community (SADC).

President Kibaki expressed confidence that the country has a bright economic future which would offer any investor a competitive entry in the region, adding that the country was in the path to full recovery from the post election challenges.

The President said, “Indeed, the regional markets available to investors in Kenya are about to grow even larger. This is therefore an opportune time for investors to come to Kenya in preparation for the expanded markets that will be realized in a few years time.”

The Head of State assured investors that the government was committed to support them settle for business in the country by improving the infrastructure and other vital services that reduce the cost of doing business.

The President said, “I also want to assure investors that my Government will facilitate all those who want to invest in the country. This is why my Government is continuing to put in place various investment incentives.”

President Kibaki assured investors that his Government was wholeheartedly addressing all issues of concern to investors such as arbitration of disputes, land, immigration and security among others.

He said, “Our objective is to see the development of a competitive and attractive business environment, affordable infrastructure, strong law enforcement and rule of law.”

With regard to current global financial crisis, the Head of State noted that the interdependence of the world economy may affect the country as an active player in the international business arena.

He observed, “ Kenya , as an active player in the Global business arena, cannot escape entirely from its ripple effects. We rely heavily on major world economies for our exports, remittances from our people living in the Diaspora and tourism. For investors who borrow offshore, raising finances for capital projects will become more competitive.”

Deputy Prime Minister and Minister for Trade Uhuru Kenyatta in his address said while electricity consumers appreciate the Government interventions in reducing the cost of energy, much more need to be done to lower the tariffs to guard against huge losses of jobs and investments.

The Sameer Chairman Mr N.N. Merali said the Ksh. 2.2 billion Project which is a joint venture of Sameer Africa limited and Mombasa development limited, a subsidiary of Sameer investment limited, will on completion, create more jobs, optimize on the immense opportunities in ICT, improve on Kenya’s competitiveness and connect Kenya to the rest of the world through Business process off shoring.

Cabinet Ministers Najib Balala and Prof. George Saitoti and former Vice President Moody Awori and Permanent Secretary Ministry of Information and Communications Dr. Bitange Ndemo and other senior public and private sector officials attended the function.