RIYADH, 12 June 2006 — Prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC) discussed bilateral issues with Kenyan President Mwai Kibaki at the Presidential Palace on Tuesday.
The president had bestowed on the prince the highest medal during his previous visit to Kenya in 2005. The two discussed a number of social and economic issues. The president referred to the Prince’s continuous and generous contributions for humanitarian causes, health and education in Africa, which included a recent $1 million donation to help 3.5 million drought victims.
The prince also met with Kenyan Vice President Moody Awori. The two discussed economic issues related to their respective countries.
Furthermore, they explored investment activities that can be carried out through KHC and its affiliates, HSBC-Kingdom, Kingdom-Zephyr (KZAM), and Kingdom Hotel Investments. In close collaboration with IFA of Kuwait, as well as Fairmont Hotels & Resorts, Kingdom Hotel Investments had acquired 100 percent of the Lonrho Hotels portfolio in Kenya. The portfolio, consists of five properties totaling over 400 rooms, includes the historic Norfolk Hotel in Nairobi and the famous destination resort of the Mount Kenya Safari Club. The remaining three hotels include, the Mara Safari Club, The Ark and Aberdare Country Club.