President William Ruto on Saturday issued licences to six companies that will invest a total of KSh30 billion in the Naivasha Special Economic Zone.
The six firms have committed to pumping upwards of Sh20 billion into building facilities at the SEZs.
The companies include Accurate Steel Mill Ltd, Tad Moto SEZ Ltd, JAFRO SEZ Ltd and Africa Global Logistics Ltd.
Others are Jumbo AA Holdings Ltd and Ceylon Energy Africa Ltd.
The president said the investments will create at least 3,000 jobs that will offer a ray of hope for thousands of jobless Kenyans.
President Ruto is banking on SEZs across major towns to create jobs, attract investments and enhance the country's fortunes as he seeks to improve the economy.
"We are on course in our quest to transforming Kenya into an attractive investment destination and a leader in green industrialisation," Ruto said.
"Issued licences to six companies that will invest a total of KSh30 billion, creating more than 3,000 jobs."
More than a dozen investors have committed to invest in the Naivasha Special Economic Zone, with the initial firm expected to start the process of settling in April.
This brings closer to reality the zone that is expected to be a major hub in the country.
The government said it has already secured 16 investors, mostly manufacturers keen on taking advantage of the cheap electricity that the SEZ is expected to offer.
SEZs including Naivasha have a special tariff, paying an energy charge of Sh10 per unit of electricity before variables such as inflation and fuel adjustments as well as taxes are added.
This is substantially lower than the Sh14.70 that some industries pay and Sh21 that households pay per unit of power before the other components are factored in.
Ken Chelule, chief executive of Special Economic Zones recently said the SEZs including Naivasha are key for job creation.
“A key consideration for us when looking at investors is how many jobs you will create for the people. There are other factors like how much the government will earn in terms of taxes but people being beneficiaries is a priority,” he said.
