Kenya’s stability and safety have made it ideal for investment in mineral processing plants for value addition, Globelink Investment Group CEO Solomon Cai has said.
Cai said most countries in the region are rich in mineral resources but don’t have processing infrastructure due to legal and security requirements.
“Most investors are hesitant to establish mineral processing plants in these countries, but Kenya has the advantage of being stable and secure,” Cai said.
He spoke to the Star in Nairobi on Sunday.
Cai said Globelink Investment Group’s subsidiary company, Hudson Mining Ltd, launched its operations in Kenya during the Mine Expo Kenya at Kenyatta International Convention Centre in Nairobi on June 6, 2024.
“We are basically about value-addition. We want to make Kenya a collection centre because of its strategic geographical location. So, we want to use the country as a window to the whole region,” Cai told the Star.
“All the countries in the region are rich in mineral resources, but they need a centre to process. While many countries in the region are rich in mineral resources, they don’t have the processing infrastructure because of legal and security requirements."
Cai said though Kenya isn’t so rich in mineral resources compared to some countries in the region such as the Democratic Republic of Congo, its mining industry is better than many others in the region.
“Kenya isn’t so rich in mineral resources compared to some countries in the region such as DRC. However, the Kenyan mining industry is already better than many countries in the region. So, we are here for value-addition, technology, logistics, finance and laboratory,” Cai said.
“We already have high standards of laboratory operations in Africa from exploration, finance, logistics, training and technology."
He said the Kenyan mining sector has a lot of potential, but it isn’t fully developed.
“So, this is something that will help improve the growth of the mining sector in Kenya. It will make the country export more minerals that will bring additional foreign exchange and job opportunities,” Cai said.
“The sector needs to be developed. So, we bring the talent and technology. The Kenyan mining sector is growing,” Cai added.
Cai said Hudson had a multi-dimensional approach to elevate the continent's economic prospects, create better employment opportunities and drive sustainable growth across various industries.
He said they were envisioned to drive innovation, create jobs, and foster sustainable development across the continent.
“We are considering starting with pharmaceuticals because there is a shortage in medical consumption and equipment, yet there is a growing population,” Cai said.
Cai said the pharmaceutical sector in Kenya and the region relies mainly on imports.
“We want to enhance the supply chain to service Kenya and the entire region. The other thing is clean energy, power transmission and engineering. So, we want to integrate the resources from China, Asia and the rest of the world,” he said.
“We are currently doing the market study and looking for land so that we start in the last quarter of the year,” Cai said.
