President William Ruto lauded the burgeoning landscape of new enterprises within Kenya’s Special Economic and Export Processing zones, attributing them to a robust signal of investor confidence in the nation during the grand opening of Jumbo Africa Auto Auction SEZ Limited, the inaugural Japanese car auction venture on the African continent, situated within the Naivasha Special Economic Zone.

"Henceforth, buyers in Kenya, East Africa, and the whole African continent will be able to choose a wide variety of vehicles, ranging from cars and trucks to motorcycles and speciality vehicles, as well as machinery, mechanical appliances, vehicle parts, work trucks, and handling equipment," emphasized President Ruto, underscoring the vast array of offerings the new establishment brings forth.

With a nod to the digital age, Ruto highlighted the convenience for Kenyan consumers, who can now purchase motor vehicles using local currency through online platforms.

Moreover, he underscored the competitive bidding system, promising lower prices and increased savings compared to traditional purchasing and importation channels.

The President foresees Jumbo Africa’s presence triggering a surge in demand for vehicles, thereby catalyzing growth within the auto parts industry and fostering technological advancement.

Read More

  1. Cane growers in Kenya optimistic of revival as Ruto assents to Sugar Bill 2022
  2. Taxpayers’ Day: Ruto celebrates Kenya's economic gains, compliance milestones
  3. Businesses in Kenya left in a daze as Govt declares Friday a ‘Kindiki’ public holiday

He remarked, "In other words, with the steady increase in new entrants and broadening of the sectors represented, our Special Economic Zone programme is coming of age, vindicating its driving vision of mobilising and leveraging private investment as the primary driver of economic growth in our country."

Among the manifold benefits touted by Ruto are job creation, bolstered domestic and foreign direct investment, and the augmentation of Kenya's foreign exchange earnings.

These, he asserted, align seamlessly with the nation's Bottom-Up Economic Transformation Agenda, positioning special economic zones as pivotal arenas for enhancing competitiveness and productivity.

The allure of Kenya's investment landscape, according to Ruto, lies in its attractive tax incentives, top-notch infrastructure, and streamlined business procedures offered within the EPZ framework.

He further enumerated value chain integration and expanded market access as compelling incentives for prospective investors.

The strategic location of the Naivasha Special Economic Zone, adjacent to the Olkaria Geothermal electricity generation complex, was underscored by Ruto.

He emphasized the allure of low-cost power tariffs, significantly reducing the operational expenses for businesses within the zone.

Spanning 1,000 acres, the Naivasha Special Economic Zone boasts an industrial park, internal access roads stretching 1.56 kilometres, an inland container depot, and seamless connectivity to standard and meter-gauge railway lines.

Anticipating future growth, Ruto announced plans for an additional 5,000-acre expansion, underscoring Kenya's commitment to fostering a conducive environment for investment.

"In short, Kenya is the best home for your investment, and Naivasha is the best location for your enterprise," affirmed President Ruto, encapsulating the nation's enthusiasm for Jumbo Africa Auto Auction SEZ Limited and its transformative potential in propelling economic growth.