Home » Kenyan tycoon Julius Mwale discusses investing with 19 African presidents

Kenyan tycoon Julius Mwale discusses investing with 19 African presidents

by Mfonobong Nsehe
Julius Mwale

Kenyan multimillionaire businessman Julius Mwale recently met with 19 African presidents at the U.S.-Africa summit in Washington, D.C., to discuss investment opportunities across the continent.

The summit, which was hosted by U.S. President Joe Biden, brought together more than 50 heads of state from Africa and committed over $55 billion in funding for the continent over the next three years in areas such as health, the environment, innovation, and women’s empowerment.

Mwale’s company, Mwale Medical and Technology City (MMTC), a $2-billion community-owned sustainable metropolis with a large medical and technology complex in Kakamega, Kenya, is expected to benefit from some of these resources as it expands its projects throughout Africa.

The Kenyan businessman, who is based in the United States, has been actively seeking partnerships with African governments in order to expand the MMTC city project across the continent.

In September, he held talks with Sierra Leone President Julius Bio in Freetown, the country’s capital, to discuss a move to expand his business in the region. He also met with Ghanaian President Nana Akufo-Addo and welcomed Ghanaian medical tourists to MMTC’s Hamptons hospital for specialized treatment.

In May, Mwale entered the Democratic Republic of Congo (DRC) market by partnering with U.S. firm KE International to build a 16-gigawatt solar battery manufacturing plant, which will power cities in Kenya and the rest of Africa, including the DRC.

Mwale is also in talks with the Senegalese government to build Africa’s longest bridge, the seven-kilometer-long proposed Lungi Bridge.

The U.S.-Africa summit, which took place from Dec. 13-15, focused on fostering new economic engagement, strengthening democracy and human rights, responding to the COVID-19 pandemic and future pandemics, promoting food security, advancing peace and security, addressing the climate crisis, and strengthening ties with diaspora communities. 

Overall, the summit demonstrated the strong commitment of the United States to Africa and the importance of the relationship between the two regions.

Mwale’s meetings with the heads of state highlight the significance of U.S.-Africa relations and the potential for increased investment and collaboration on the continent.

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