Local Firm Inks Deal to Set Up Assembly Plant - Family Bank Limited, Kenya

Local Firm Inks Deal to Set Up Assembly Plant

Pewin Group, a Family Bank Customer, has inked deals worth KES 7.3 Billion with business firms from Belarus during the Belarus Kenya Business Forum that was held at the Intercontinental Hotel.

Pewin Group signed an MoU to distribute tractors and set up an assembly plant with a Belarusian firm, Afttrade DMCC. They also signed an MoU to distribute fish feeds and set up a processing fish plant for the local and export market with BelinterBox.

The memorandum which is funded locally by Family Bank and the Government of Belarus will see Kenya benefiting from the new technology, exchange programmes and access to best practices in agricultural industry.

“This is a historic day for Pewin Group and Kenya. The Belarus tractors are globally renowned for their performance in general agricultural work including sowing, harvesting and transportation. In support of the Big 4 Agenda, this MoU means that small scale farmers can now access reasonably priced tractors with the latest technology and also benefit from the skill-set sharing from our friends in Belarus,” said Pewin Group’s Chairman Peter Kirigua. “This has been made possible through our local financier, Family Bank, and we hope to partner with TVET in the sharing of such skills and the creation of employment opportunities for our youth in the agricultural and manufacturing sector,” he added.

Representatives from the Republic of Belarus are in Nairobi attending the Belarus National Exposition at the Kenyatta International Conference Centre. The Ambassador of the Republic of Belarus to Kenya, H.E. Mr. Dmitry Kuptel lauded the efforts by the private sector to boost the bilateral trades and establish direct links between the two countries.

“We are proud of our client Pewin Group in harnessing trade between Kenya and Belarus. Our commitment as a Bank is centered on creating lasting financial partnerships with our customers in driving economic growth of our country. As a Bank, we walk the journey with our clients and seek to promote growth and in turn bring about the transformation of lives,” said Family Bank CEO-Designate Rebecca Mbithi.

Every year, the Republic of Belarus imports USD 20 Million of goods from Kenya. In 2017, Kenya exported USD 833,400 to Belarus. The ties will increase volume of trade between the two countries. Belarus currently receives tea and cut flowers through proxy markets.

Pewin Group also signed MoU with Belinter Box from Belarus for the fish farming industry.