Sunday, March 27, 2016

Report: Chinese firms in Kenya hire more locals than foreigners

A new report by the World Bank reveals that Chinese companies operating in Kenya hire a larger number of locals than foreigners, flying in the face of the common belief that all the jobs created from Chinese investment go to Chinese workers.
While China frequency faces accusations that it is embarking on a neo-imperialist adventure in Africa, looking to do nothing more than secure oil or other natural resources, the report indicates that Chinese investment is playing a helpful role in creating jobs and improving infrastructure.
The report titled “Deal or No Deal: Strictly Business for China in Kenya?” said that China ranked as the fifth highest job creator in the country through foreign direct investment after the US, UK, Japan and India.
Contrary to the popular belief that Chinese companies only hire Chinese workers, 93 per cent of companies report hiring Kenyan employees; private enterprises are more likely to hire locals than state enterprises.In addition, larger firms are more likely to hire Kenyans than smaller firms. Of the companies surveyed, Kenyans represent 78 percent of full-time and 95 percent of part-time employees
As the Chinese economy slows down, more and more companies are expected to try their hand at doing business in Africa. Already large companies such as Tencent have announced their plans to try and get a piece of the rapidly growing economies of the continent.

No comments:

Post a Comment