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HomeWealthXeng Yang: The Chinese Billionaire Who Wanted To Lease Nairobi For Five...

Xeng Yang: The Chinese Billionaire Who Wanted To Lease Nairobi For Five Years

By Prudence Minayo

Relations between Kenya and China have immensely grown over the last decade. China accounts for about a third of Kenya’s external debt making it one of Kenya’s biggest creditors. So strong is the Chinese influence that Kenyans have joked about the government selling the whole country to China. 

In 2019 Chinese tycoon Xeng Yang offered to buy Nairobi-the news spread across various social media platforms like wildfire. While some Chinese multinationals have set up bas in Kenya and other individuals bought shares or started companies, none has ever offered to buy a city. Xeng was offering to buy not any other town but the capital city. 

He pegged his bid at $30 billion for the country’s capital. The audacity shocked many who commented about his suggestions on a number of platforms. Others did not know whether the tycoon was just joking, being arrogant or if he was serious. 

Also Read: Chinese Road Construction Companies That Have Been Awarded Multi-Billion Projects In Kenya 

Leasing Nairobi For Five Years

The businessman reportedly said he wanted to lease the city for a 5-year period but his bid was turned down by President Uhuru Kenyatta. He said it would be difficult to run the country with all the debt owed to China. Apparently, the deal was supposed to be beneficial for both himself and the government as he would spur the City’s growth. A local daily reported that he wanted to turn Nairobi into a hub of cybernetics and develop electronic machines and robotics. 

Feeding Africa For 21 Days

This was not the first time Xeng Yang was making shocking remarks. In 2018, while giving an interview to African Daily, the billionaire said he had enough money to feed the entire African continent population for 21 days and still remain with change to waste on loose women. The remarks didn’t sit well with a number of African leaders. 

The deputy president warned the Chinese against taking advantage of Africa as the government won’t allow it. Later, the Chinese tycoon was deported from the country after referring to Hon. William Ruto as an irredeemable mongoloid.