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Kenya most attractive investment destination in Africa, says Kenyatta

Kenya most attractive investment destination in Africa

President Uhuru Kenyatta has invited United Kingdom (U.K) investors to tap into emerging business opportunities in Kenya, saying the country remains one of the most attractive investment destinations in Africa.

The President showcased 10 investment opportunities worth over US$.5 billion that are immediately available in Kenya under the public-private partnership framework.

Among the projects are Nairobi smart street lights project, Nairobi bus rapid transport system, intelligent traffic management system project and Galana Kulalu food security project.

Kenyatta who is in London for a three day visit made the invitation during a business forum hosted by U.K foreign secretary Dominic Raab.

During the event, a cooperation pact was signed between the Nairobi International Financial Centre and the city U.K, a London business lobby group.

The partnership will allow collaboration in business and investment promotion.

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The United Kingdom (UK) has already announced Ksh.20 billion of a new government and private investment into President Uhuru Kenyatta’s Big Four Projects.

Under this financing kitty, Ksh.5.2 billion will be matched by Ksh.3.5 billion of private investment to finance 10,000 green affordable homes for Kenyans.

“These quality homes will be energy and water efficient properties for low and middle- income families, and will contribute to Kenya’s goal of building 500,000 new affordable homes by 2022. The investment will go directly into projects, and is a combination of UK government aid and privately raised funds,” said UK Foreign Secretary Dominic Raab.

Kenya will see the launch of the Nairobi International Financial Centre, in partnership with the City of London.

Kenya will also receive Ksh. 67 million of new UK funding for policy advice and technical assistance to support the development of green manufacturing in Kenya, including manufacturing of electric vehicles. This builds on the UK’s Manufacturing Africa programme, which has already supported Ksh.4.2 billion of new manufacturing investment into Kenya;

Lastly, the completion of the Ksh.33 billion Kipeto Wind Farm, backed by the UK’s Actis in partnership with the U.S Government.

President Uhuru Kenyatta’s visit to the UK this week is aimed at strengthening the Kenya-UK strategic partnership.

Briefing the press in London ahead of the President’s visit, Kenya’s High Commissioner to UK Manoah Esipisu said the visit will be the Presidents’s co-chairing of the Global Education Summit with Prime Minister Boris Johnson.

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Lawrence Baraza is a prolific writer with competencies in Digital Media, Print, and Broadcast. Baraza is also a Communication Practitioner currently spearheading Digital content on Metropol TV's Digital Desk.

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