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French Companies to Invest $10 Billion in Kenya: Minister

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French companies will invest $10 billion in Kenya in roads, energy, manufacturing and other sectors, a Kenyan official said on Wednesday without giving a timeframe, after a visit by more than 60 French executives.

The two countries have been trying to boost business links in recent years, and French companies like Total SA and Peugeot SA already have investments in the East African nation.

“The identified (investment) projects will attract more than $10 billion in investments and create thousands of new direct jobs,” Adan Mohamed, the minister for industrialisation, said in a statement sent from the presidency.

Apart from executives at Total and Peugeot, other firms that sent representatives on the Kenyan visit included Schneider Electric, SSE Air Liquide and Bollore, the Kenyan presidency said.

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