9 August 2021
Last update on Monday, August 9, 2021 At 10:53 AM
After the 2020 trade agreement, London and Nairobi want to strengthen their private investments. On a 3-day visit to the UK, President Uhuru Kenyatta validated the launch of the new Nairobi International Financial Center, and secured a new investment of £ 132 million.
The UK is set to invest £ 132million ($ 184million) in Kenya. The announcement was made on July 27 by Dominic Raab (photo, right), UK Foreign Secretary. This new investment will target key sectors such as industry and energy.
It will build 10,000 affordable sustainable housing units, attract $ 39 million in private investment in Kenya’s manufacturing industry through the UK’s Manufacturing Africa initiative, and fund expansion of the industry. off-grid solar power in western Kenya, to provide 6,000 Kenyan households with access to clean energy.
Added to this are investments to support Kenya’s transition to green energy, and the development of electric car production. In recent months, thanks to the United Kingdom’s exit from the European Union, London has gradually strengthened its relations with several African countries, particularly in the East.
The Kingdom intends to make Kenya its gateway to other nations. To this end, a historic trade agreement was signed on December 8, 2020, followed in January 2021 by a defense agreement. “This set of new UK-Kenya deals worth £ 132 million between the UK government and UK businesses will support investment in the region,” Minister Dominic Raab said.
He added: “It will create new jobs and unlock new opportunities for British and Kenyan businesses by strengthening relations between Nairobi and London”. Note that an agreement was also signed between the two countries for the establishment of a new digital customs system for Kenya. It “will make it easier and faster to move goods between Kenya and the UK, and between Kenya and the rest of the world. »
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