US-based Kenyan tycoon Julius Mwale meets 19 African presidents, discuss investment opportunities

for Tv47 Digital December 15, 2022, 05:57 PM
Julius Mwale meets presidents in U.S
U.S-based Kenyan tycoon Julius Mwale, who is the founder of Mwale Medical and Technology City, converses with President William Ruto on the sidelines of the U.S-Africa Summit in Washington DC.

In Summary

  • U.S-based Kenyan tycoon Julius Mwale and his team met with various heads of state from Africa, discussing investment opportunities across the continent.
  • Among the Heads of State Mwale met include Kenya's William Ruto, who is attending the key summit.

Julius Mwale, the U.S-based Kenyan tycoon and founder of Mwale Medical and Technology City (MMTC) met 19 Presidents on the sidelines of the ongoing US-Africa Summit in Washington, DC. 

In a statement, MMTC said Mwale and his team discussed investment opportunities across the continent with various Heads of State.  

“Our team was privileged to interact with government and business leaders from US and Africa including HE President William Ruto and 18 other heads of state. The summit which is hosted by President Joe Biden attracted more than 50 Heads of State from Africa.

“The US government committed over US $ 55 billion for Africa over the next three years in areas of health, environment, innovation and women empowerment. MMTC will benefit from some of the resources as we expand our projects across the continent,” the statement read in part. 

The summit showed how persistently committed the U.S is to Africa, underlining the significance of US-Africa relations, and highlighting how closely they are working together on common global priorities.

The Summit, that happened between December 13-15, built on shared values to better foster new economic engagement, strengthen the US-Africa commitment to democracy and human rights, mitigate the effects of COVID-19 and future pandemics, work cooperatively to strengthen regional and global health, promote food security, advance peace and security, respond to the climate crisis, and strengthen ties with diaspora communities.

The meeting between the Heads of State came at a time when Mwale has been seeking partnerships with governments across Africa to expand his MMTC city project across the continent. 

At the United Nations General Assembly this year, Mwale held talks with Ghanaian President Nana Akufo-Addo who welcomed the businessman to invest in the country. 

"The president welcomed our team to Ghana to expand Mwale Medical and Technology City (MMTC) to Ghana. The talks with the President came after benchmarking visits by Ghanian delegations at MMTC in early September. 

"MMTC team also welcomed Ghanian medical tourists to visit Hamptons hospital for specialized medical treatment via Kenya airways flights from Accra to Kisumu via Nairobi," MMTC said in a statement.

Kenyan tycoon Julius Mwale of MMTC when he met with Ghanaian President Nana Addo Dankwa Akufo-Addo on the sidelines of the United Nations General Assembly in New York. PHOTO | COURTESY

In May this year, Mwale made an entry into the Democratic Republic of Congo (DRC) market where he will be establishing a solar battery manufacturing plant.

Mwale will be among the key partners who will be undertaking the project in partnership with US firm, KE international.

The project will seek to power cities in Kenya and the rest of Africa including DRC.

“We are investing in building a 16 Gigawatt (16 terawatts) battery manufacturing plant in the DRC, to help power our smart cities in Kenya and the rest of Africa,” Mwale in a press statement on Tuesday.

Continental engagements

The deal for the project was realized during the Global Conference with world leaders and global executives held in early May.

The billionaire struck a deal worth Ksh 684 billion with different financiers and partners towards the realization of the battery plant.

At the same time, Mwale is in talks with Senegalese government to build Africa’s longest bridge, 7-km proposed Lungi Bridge. 

The tycoon was in Senegal on a two-week tour in October where he met President Julius Bio in Dakar. 

Mwale and his delegation were invited to the West African country by the Sierra Leonean President after attending the inauguration of President William Ruto in September.

“Our delegation completed a 2-week state investment tour of the Republic of Sierra Leone to discuss the expansion of Mwale Medical and Technology City (MMTC) to the country. 

“The tour follows the invitation for MMTC by President Julius M. Bio of Sierra Leone, following his visit to Kenya this year,” MMTC said in a statement on Monday.

The delegation was hosted by President Bio and met with government officials, private sector leaders and local community chiefs. 

“Our team will invest in a new smart City as an extension of MMTC with a focus on Agriculture, healthcare, energy, transport and manufacturing sectors,” the statement added.

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