Iran seeks to invest in Kenya’s energy sector

• 12 years ago (2011-11-25)
• David Flin

Middle East 312

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Iran is considering making investments into Kenya’s growing energy sector. A delegation from Iranian businesses led by Hossein Soheil is in Kenya seeking potential opportunities, citing a friendly business environment. Soheil said that hundreds of Kenyans would benefit from Iranian investment, as they will be employed in almost all levels of management.

Soheil told the Kenya National Chamber of Commerce: “We are coming to Kenya because we know it is safe and conducive for making any meaningful business venture.” He singled out energy as a key area that offer major growth opportunities, and particularly the electricity sector, where demand is close to exceeding power generation capacity.

Installed capacity stands at 1300 MW, while peak demand is currently 1180 MW. Demand for electricity is increasing at 7 percent annually, and this rate of growth is expected to increase.