#JackMaInKenya: Africa Wins as Jack Ma, Other Chinese Billionaires Visit Kenya

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Founder and Executive Chairman of Alibaba Group Jack Ma attends the opening ceremony of the third annual World Internet Conference in Wuzhen town of Jiaxing, Zhejiang province, China November 16, 2016. REUTERS/Aly Song – RTX2TVU4

Further revealing the mass of Africa’s untapped potentials, a team of 38 wealthy men and women have arrived Kenya on Wednesday evening, apparently with eyes on investing in some startups.

The team which was led by Jack Ma, the founder and Chief Executive Officer of the e-commerce behemoth, Alibaba, includes, among others; internet tycoon, Bob Xu, the founding partner of Alibaba, Lucy Peng, real estate tycoon, Huang Youlong, and the founder and chairman of Mengniu Diary, Niu Gensheng, the Business Daily reported.

The visit which is planned for two days, is expected to reach its climax this afternoon, where Mr. Ma, who is a special adviser for youth entrepreneurship and small businesses for the United Nations Conference Trade and Development (UNCTAD), is expected to make an appearance at the University of Nairobi, where he is to share with the Kenyan youths, tips on entrepreneurship and businesses as a whole and empowering them to help them change the game.

Mr Ma is the richest man in Asia with a fortune of nearly $30 billion. His entourage of business men and women is expected to scout for business opportunities within Kenya and expected to address business community and students at the University of Nairobi.

Kenya is seen as an economic hub in East and Central Africa, owns the largest economy in East Africa, giving about Sh7 trillion as economic output, and has steadily seen a rising influence of China trading opportunities. The business group of rich Chinese are looking for opportunities with the government, local businesses, and are expected to make multi-million shilling deals.

This visit has been seen as another plus for the African Investment drive, especially at a time when e-commerce industry seems to be at a low ebb.

This visit by Jack Ma follows series of other prominent visits in recent past. Recalled that the founder of Facebook, Mark Zuckerberg visited Nigeria and some other African countries some time ago. That is one visit that has yield some gains for the continent and having other promising prospects.

This visit follows a number of other prominent ones in recent past. Recalled that the founder of Facebook, Mark Zuckerberg visited Nigeria and some other African countries some time ago. That is one visit that has yield some gains for the continent and having other promising prospects.

The team, which are from the Beijing Chamber of Commerce, and plans to visit Rwanda next for a similar visit, will definitely have a positive effect on the Kenya-China trade relationship


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