President William Ruto on Monday, April 8 revealed that Kenya had secured multi-billion investment deals from different players.
While speaking in West Pokot County during the commissioning of the Cemtech Limited Clinker Plant, the Head of State revealed that one investor had injected Ksh4.5 billion towards fluorspar mining operations.
If actualised, the material may be used locally or exported to make various items such as insulating foams, gasoline, aluminium, refrigerants and steel among others.
"West Pokot is a county for mining and this will not be the only factory we are building so many more will be established," Ruto emphasised.
Additionally, Ruto stated that another investor will also pump Ksh5.8 billion towards the establishment of a gold refinery in Kakamega County following the discovery of gold deposits in the neighbouring county of Siaya estimated to be worth Ksh1 trillion.
Meanwhile, in Vihiga County, another investor will set aside Ksh2.5 billion to set up a granite factory. Granite is used for countertops, floors, monuments, construction, sculptures, tombstones, and sinks due to its strength, durability, and attractive appearance.
The Head of State explained that these investments were in line with his plan to boost the mining industry in Kenya to ensure the country benefits from the precious minerals.
"We must look for ways to utilise our resources which will eradicate poverty, and hunger and also create jobs for our young Kenyans," he added.
President Ruto explained that this is one way to increase Kenya's exports and boost revenues. Another measure is establishing six more special economic zones countrywide.
While addressing the leaders in attendance, Ruto revealed that this is what informed the Finance Act, of 2023 which he claimed was partly driven by the need to make Kenya a leading manufacturer of goods, moving away from the norm where the country is heavily reliant on imports.
Ruto assured Kenyans that his government would ensure the manufacturing industry grows steadily throughout his tenure.
He further noted that the commissioning of the clinker plant was a step in the right direction to reduce importation and make cement production cheaper.
"Some people tell me that goods manufactured in Kenya are not good quality and I tell them that it is better to drive a Datsun made in Kenya than a Rolls Royce made elsewhere," he remarked.
