News: Chinese Tycoons Look for Opportunities in Kenya

A group of 38 men and women from the Beijing Chamber of Commerce visited Kenya earlier this week looking for areas of growth for both China and Kenya. The group was led by Jack Ma, founder and executive chairman of China’s ecommerce giant Alibaba.

The economy of Kenya is East Africa’s largest and Chinese influence has been rapidly growing there. The Chinese business moguls’ goal was to search for business opportunities and share insights on building successful businesses.

Jack Ma is a special adviser for youth entrepreneurship and small businesses for the United Nations Conference on Trade and Development (UNCTAD) and has been urging developing countries to use ecommerce to boost their economies. He was scheduled to speak to 500 young business leaders at the University of Nairobi during his visit.

According to UNCTAD Secretary-General, Mukhisa Kituyi, “effort should be made to encourage young Kenyan entrepreneurs to access the Chinese market just like the Chinese are accessing local markets. Our challenge is not finding agents to import Chinese goods, I am looking for people who are willing to sell African goods to China.”

To read more, please see: Jack Ma’s team of Chinese billionaires arrives in Kenya to hunt for deals.