Asia's richest man, Jack Ma, due to land in Kenya

Jack Ma gives a speech at Alibaba Xixi Park on July 13, 2017 in Hangzhou, Zhejiang province of China. PHOTO | AFP

What you need to know:

  • Mr Ma will make presentations to 500 young business leaders at the University of Nairobi.
  • He is also expected to meet business leaders in the country on Thursday.
  • A champion of global trade, Mr Ma has been urging developing countries to look to e-commerce to bolster their economies

Jack Ma, founder and executive chairman of Chinese e-commerce behemoth Alibaba, will land in Nairobi today for his a two-day visit.

Mr Ma, who is currently Asia’s richest man with a fortune valued at nearly $30 billion (Sh3.11 trillion or nearly half of Kenya’s economic output) is expected to share entrepreneurial insights with Kenyan youth in his capacity as special adviser for youth entrepreneurship and small businesses to the United Nations Conference on Trade and Development (UNCTAD).

Mr Ma will make presentations to 500 young business leaders at the University of Nairobi.

He is also expected to meet business leaders in the country on Thursday.

Spur growth

In an interview ahead of the visit, UNCTAD Secretary-General Mukhisa Kituyi said on Wednesday that Mr Ma’s trip is meant to spur growth of ideas among young Kenyan entrepreneurs.

“We want our young people to explore opportunities for business not only with China but the rest of the world,” said Mr Kituyi.

A champion of global trade, Mr Ma has been urging developing countries to look to e-commerce to bolster their economies, instead of creating regulations and taxes that could kill the emerging sector in its infancy.

“We should not discipline the baby before even it is born,” Mr Ma told a gathering in Geneva during UNCTAD’s annual E-Commerce Week convention recently.

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