By Andrei Skvarsky.
Kenya expects about $118.5m to be immediately injected into its economy by the organisers and delegates of a planned large-scale international conference in Nairobi this week on African development.
Kenya Airways and hotels and taxi services in the African country’s capital city are likely to reap early benefits from the sixth iteration of the Tokyo International Conference on African Development (TICAD), a regular trade, investment and development forum co-organised by Japan and the United Nations, according to the Nairobi-based Daily Nation newspaper.
What will be the first TICAD conference to be held outside Japan is going to bring together about 10,000 delegates, 4,000 of them from Japan and the rest representing various African countries, the Daily Nation said.
TICAD VI’s peak event will be a summit on August 27-28. It will be preceded by a meeting of senior officials on August 23-24 and a ministerial meeting on August 26, according to the TICAD website.
Kenya’s economy received a direct cash input of $59m from delegates to a session in Nairobi last month of the U.N. Conference on Trade and Development (UNCTAD), the newspaper cited Kenyan Foreign Minister Amina Mohamed as saying.
Japanese Prime Minister Shinzo Abe has confirmed his participation in the summit.