Kenya’s Trade and Industrialization Cabinet Secretary, Moses Kuria, on February 24th made an offer to the Vice Chancellor of Kenyatta University, Professor Wainaina, to buy out the lease for China Square and Unicity Mall, two prime shopping centers in Nairobi.
Kuria has pledged to hand over the properties to the Gikomba, Nyamakima, Muthurwa, and Eastleigh Traders Association.
I have today given an offer to Prof Wainaina the VC Kenyatta University to buy out the lease for China Square, Unicity Mall and hand it over to the Gikomba,Nyamakima, Muthurwa l& Eastleigh Traders Association.We welcome Chinese investors to Kenya but as manufacturers not traders
— CS Moses Kuria (@HonMoses_Kuria) February 24, 2023
In a statement released to the press, Kuria clarified that he welcomes Chinese investors to Kenya but only as manufacturers, not traders.
He believes that the Chinese have contributed to Kenya’s economy through their investments in manufacturing, and their presence has created jobs and stimulated growth.
Read also;
How To Register A Self Help Group For Hustler Fund Application 2023
However, Kuria argues that the influx of Chinese traders has had a negative impact on local traders, who have been struggling to compete with Chinese goods flooding the market.
The Gikomba, Nyamakima, Muthurwa, and Eastleigh Traders Association have been vocal about their concerns over the impact of Chinese traders on their businesses.
They have complained of unfair competition, with Chinese traders selling goods at much lower prices than local traders can afford to match.
The Association has also raised concerns about the quality of goods being sold by Chinese traders, which they say are often of inferior quality.
Kuria’s offer to buy out the lease for China Square and Unicity Mall is seen as a bold move to address the concerns of local traders and to promote local manufacturing.
The properties are prime locations for businesses, and if handed over to the Traders Association, could provide a boost to local businesses.
However, the offer has also been met with criticism from some quarters.
Some have questioned the legality of the proposal, arguing that Kuria does not have the authority to buy out the lease for the properties.
Others have raised concerns about the potential impact on the Chinese businesses currently operating in the properties.
It is unclear how many Chinese traders currently operate in the two shopping centers, but the properties are known to be popular with Chinese businesses.
Kuria has responded to these concerns by stating that his proposal is not intended to target Chinese businesses specifically.
Rather, he says, it is a move to promote local manufacturing and to address the concerns of local traders who have been struggling to compete with Chinese imports.
The debate over the impact of Chinese traders on the Kenyan economy is not a new one.
In recent years, Chinese businesses have flooded the Kenyan market, offering goods at lower prices than local traders can match.
This has had a significant impact on local traders, many of whom have been forced to close their businesses as a result.
The issue has been a contentious one, with some arguing that the influx of Chinese traders has created jobs and stimulated growth in the Kenyan economy.
Others, however, argue that the impact on local businesses has been too great and that action needs to be taken to address the imbalance.
Kuria’s offer to buy out the lease for China Square and Unicity Mall is the latest move in this ongoing debate.
It remains to be seen whether the proposal will be accepted by the Vice Chancellor of Kenyatta University and whether it will be feasible to hand over the properties to the Traders Association.
If the proposal does go ahead, it could have significant implications for the Kenyan economy.
The properties are prime locations for businesses, and if handed over to the Traders Association, could provide a boost to local businesses.
However, the impact on Chinese businesses currently operating in the properties is also a concern, and any move to target Chinese traders specifically could have wider implications for trade relations between Kenya and China.
As the debate over the impact of Chinese traders on the Kenyan economy continues, Kuria’s proposal to buy out the lease for China Square and Unicity Mall has sparked renewed discussion about the best way to promote local manufacturing
Discussion about this post