- Seven legislators have faulted Trade CS Moses Kuria for frustrating foreign investors following the closure of China Square mall in Nairobi.
- Led by Nandi senator Cherargei, the lawmakers said the closure of the mall amounts to frustration and hurting of the investors’ businesses, a move that has the hallmark of hurting the country’s economy.
Seven legislators have faulted Trade CS Moses Kuria for frustrating foreign investors following the closure of China Square shop in Nairobi.
Image: EZEKIEL AMINGÁ
Seven legislators have faulted Trade CS Moses Kuria for frustrating foreign investors following the closure of the China Square shop in Nairobi.
Led by Nandi senator Cherargei, the lawmakers said the closure of the mall amounts to frustration and hurting of the investors’ businesses.
“In the recent past we have seen the indefinite closure of the China Square that has elicited debate among Kenyans and the business community,” Cherargei read in a joint statement.
They called on the CS to engage the investors to reach an amicable solution without hurting businesses and scaring away investors.
“It is my humble plea to the Ministry of Trade and Industrialization to have a structured engagement with the Investors to resolve the matter without hurting their businesses,” the Nandi senator held.
The legislators include senators Cherargei, Mohamed Chuti (Marsabit?), James Lomenen (Turkana), Issa Boy (Kwale), Alexander Mundigi (Embu), Mohamed Faki (Mombasa) and Mumia East MP Peter Salasya.
They addressed a press conference at Parliament Buildings in Nairobi on Thursday.
According to the lawmakers, Kenya has a Policy enabling an equitable no-bias and protective business environment for trade and investment in the Country.
Foreign investors have created employment for the youth and contributed to the Growth of the Kenyan economy.
Citing data from the Investment Authority (KIA), Foreign Direct Investment to Kenya stands at over Sh 200 billion annually.
This is attributed to Investors having confidence in Kenya’s business climate.
“Kenya is a signatory to a number of Multilateral and bilateral trade investments and a Member of the World Trade Organization (WTO) and other several Trade arrangements in Africa and other parts of the world,” they said.
“We have well-established Foreign Companies operating in Kenya such as Carrefour chain of supermarkets, McDonald's, Quickmatt supermarket,” they added.
Senator Faki reckoned that it was ironic that the government was frustrating investors that the times it needs them the most to boost the battered economy.
“It is not possible that we are going to look for investors on one end and on the other end we are chasing them away,” he said.
“Safaricom has invested in Ethiopia and Equity in Rwanda and DRC so we should be tolerant,” he added.
On Tuesday, Several Nairobi small-scale traders held protests in the Central Business District against China Square.
The traders from Gikomba, Nyamakima and CBD held demonstrations from downtown up to Harambee Annexe which houses the office of the Deputy President.
Some of the traders had decried that the shopping centre be closed as it was slowing down business operations.
In the past few days, China Square has taken shoppers by storm attracting criticism from local traders.
The square has the most affordable items, according to Kenyans on social media; all you could want at cheaper prices.
Trade CS Moses Kuria revealed that he engaged Kenyatta University Vice Chancellor Prof Paul Wainaina on China Square, located at Unicity mall Thika road.
Kuria made it clear that as much as the country welcomes Chinese investors, they were here as manufacturers, not traders.
During his talks with Wainaina, Kuria advised him to buy the Square and hand it over to local traders.
"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 and Eastleigh Traders Association," he said.