Deputy President Kithure Kindiki has revealed that 32 international companies, including the renowned luxury brand Gucci, have expressed interest in establishing operations in Kenya.
Speaking at a diaspora meeting in Namibia on Sunday, March 2, 2025, Kindiki emphasized the importance of thinking big and moving away from mediocrity in economic aspirations.
He stressed the need for Kenyans to embrace a broader vision and shift away from mediocrity, emphasizing that the country must position itself as a competitive hub for global investment.
“32 companies have expressed interest in operating from Kenya, including Gucci. The makers of luxury bags and leather products. It looks like a joke. Kenyans are used to joking, mediocrity, lies and small dreams. We have been socialized to think small,” Kindiki noted.
“Kenyans are used to joking, mediocrity, lies and small dreams. We have
been socialized to think small. ”-DP Kindiki pic.twitter.com/mB02vfUtCq— K24 TV (@K24Tv) March 2, 2025
Addressing macroeconomic stability, Kindiki noted that the current administration inherited a struggling economy characterized by a weakening currency, high inflation, and rising interest rates. However, he assured that government interventions had begun to show positive results, with a stabilized exchange rate and declining inflation indicating steady economic recovery.
He further highlighted the increasing role of diaspora remittances in Kenya’s economy, stating that remittances had surpassed Ksh500 billion, overtaking traditional foreign exchange earners such as tea, tourism, and horticulture. The government, he said, aims to double this figure to Ksh1 trillion as outlined in the Kenya Kwanza manifesto.
“Diaspora remittances have now surpassed Sh500 billion, and our target, as outlined in our manifesto, is to push that figure to Sh1 trillion,” he said.
Kindiki reassured Kenyans living abroad that the government is working to unlock more investment opportunities and address challenges that hinder their contribution to national development. He urged all Kenyans to support President William Ruto’s economic transformation agenda, emphasizing that the administration is focused on long-term economic stability rather than short-term political gains.
Kindiki also cautioned against politicizing government initiatives, noting that Kenya’s future prosperity depends on adhering to the structured reforms laid out in the Kenya Kwanza blueprint. He expressed confidence that, by following through with these economic strategies, the country would achieve significant progress in the coming years.
“We are determined, under President William Ruto, to transform Kenya and make it better. Our policies are not random ideas — they are structured reforms rooted in the manifesto that got us elected. If we follow through, Kenya will be in a much stronger economic position in the coming years,” he stated.
300 companies
This comes two months after he made a similar announcement that more than 300 companies, including Gucci, had shown interest in investing in the Kenanie Leather Industrial Park in Mavoko, Machakos County.
The park is expected to play a major role in boosting Kenya’s leather sector, potentially increasing its contribution to the national economy from Ksh10 billion to Ksh150 billion annually.
The DP highlighted that attracting such companies to Kenya would significantly transform the economy by leveraging the country’s resources to create wealth. He dismissed political distractions, urging leaders to focus on economic development rather than division and tribalism. He stressed that Kenya’s growth would come from structured economic reforms and strategic investments rather than short-term political battles.
“Industries that use leather to make leather products are now angling to set up shop in Kenanie. We have over 300 applicants in the expression of interest, including top-notch global leather product companies like Gucci, which make designer bags… they want to come and set up there. That is how you transform a country,” Kindiki noted.
Adding;
“You don’t transform a country by throwing hate, division and tribalism. You develop a country by saying ‘how do you transform the resources that God has given us into the wealth and distribute it to many people, especially those at the bottom of the pyramid.”