President Uhuru Kenyatta Wednesday announced a record breaking new investment of 15 billion shillings ($144 million) modern state-of- the art brewery by the East Africa Breweries Limited in Kisumu in western Kenya.The investment– on a fifty acre piece of land is expected to create 110,000 jobs.
President Kenyatta made the announcement in Nairobi, after holding talks with Ivan Menezes, Diageo Global CEO, who led the East Africa Breweries Limited team.
The UK multinational-Diageo, the world’s largest producer of spirits and a key producer of beer, currently owns 50.03 per cent of EABL.
Kenyatta said the investment is in keeping with Jubilee administration’s agenda of creating wealth for all Kenyans by ensuring shared prosperity amongst the citizens.
“If our private sector does well, that development means that our businesses can invest in new parts of the country, and that they can bring jobs and well-paid jobs at that for our young people, right across Kenya,” said the President.
He said in just four years, over 1500 companies have invested in the country, more than twenty of them choosing Kenya as their Africa headquarters.
He expressed gratitude to Kenya Breweries and other businesses across the country for helping the government in achieving its objective of agribusiness saying the new investment will strengthen the national push for a new, transformative way of doing agriculture in Kenya.
According to projections, the new plant alone will lead to increased utilization of sorghum from the current 20,000 metric tonnes to around 40,000 in the next five years.
“Increased demand for sorghum will see the number of contracted farmers grow from 30,000 to around 45,000. As a result, gross additional farmer earnings are expected to reach over 6 billion shillings ($57 million) annually over the next decade,” said Kenyatta.
Mr. Menezes commended President Kenyatta for his efforts in creating conducive investment environment saying the new investment is a major mile stone for the East Africa Breweries.
He said the new plant will not only create jobs but also have a multiplier effect of growing small entrepreneurs.