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Andersen Kenya inks deal with Turkish firm to attract FDI
From Left; Mr Mahesh Punia, a Geo-Economist and the Regional Head of Advisory Services at Andersen and Mr Omer Karadeli, the Chairman of the Stroton Group and DEiK for the Turkey – Kenya business council. PHOTO | POOL
Advisory firm Andersen Kenya has signed a memorandum of understanding with Istanbul-based trade organisation DeiK to make it easy for investors from Turkey to find deals in Kenya.
The firm says Kenya and Turkey have had cordial relations since Independence, with strong engagements in agriculture, health, and education.
DeiK will help in identifying validated investors in Turkey for projects while Andersen will assist these investors by providing them globally recognised professional services in terms of transfer pricing, compliance and developing bankable business plans to raise project financing.
“I am confident that this relationship which we have formed with Andersen Kenya, will make serious contributions to all the companies that want to invest in Kenya from our country in matters such as tax, law, professional market analysis and achieving financial closure,” said Mr Omer Karadeli, the chairman of the Stroton Group and DeiK for the Turkey-Kenya business council.
“We hope that now we will be able to present qualified investment projects to our members back in Turkey, who are keen to invest in Kenya,” he said.
The World Turkish Business Council was established in 2007 to gather a successful diaspora of Turkish businesspeople and Turkish professionals at the helm of decision-making mechanisms of highly influential international corporations under a single platform.
“This is just one of the many initiatives being undertaken by Andersen to ensure that we align our efforts and contribute towards the vision of attracting $10 billion FDI [foreign direct investment] per year,” said Phillip Muema, regional managing partner at Andersen.
Speaking at the event,Investments Principal Secretary (PS) Abubakar Hassan said Kenya would like to see more investments in the manufacturing sector to increase exports.
Stroton Group is diversified across the manufacturing of housing systems, construction, and scaffolding systems and is a leading integrated solar power company.
Health PS Harry Kimtai expressed his optimism in engaging Turkish entrepreneurs in healthcare services, especially in the manufacturing of medicines, supplies and equipment.
President William Ruto had earlier said foreign direct investment is pivotal to unlocking the full potential of our economy and creating the opportunities that will advance the development agenda with a target for $10 billion (Sh1.5 trillion) FDI per annum.
“No developing nation can achieve economic transformation solely using the funds provided by the treasury; we must aggressively tap into the available global funds. Proactive headhunting of the best-suited investors with ready markets is key,” said Mahesh Punia, a geo-economist and the regional head of advisory services at Andersen.
