Kenya, UK sign Ksh.427B deals to boost trade and investment. President William Ruto and UK Prime Minister Sir Keir Starmer have signed a renewed five-year Kenya-UK Strategic Partnership. The partnership expected to attract investments worth over Ksh.427 billion.
According to a statement by State House Spokesperson Hussein Mohamed on Tuesday, the agreement was reached during bilateral talks in London.
The investments will focus on four main areas. These are trade and investment, green growth and climate action, science and technology, and peace and security.
To strengthen Kenya’s innovation sector, the UK has pledged Ksh.17.7 billion to support over 500 start-ups and 5,000 tech-driven SMEs, creating an estimated 30,000 jobs in the digital space.
The two countries also plan to deepen cooperation in artificial intelligence and other emerging technologies to promote inclusive and sustainable digital development.
Additionally, the UK will facilitate Ksh.266.1 billion in new investments across Kenya. They also inject Ksh.32.3 billion into capital markets to boost economic growth by 2030.
As part of the deal, a regional underwriting hub established in Nairobi under the Nairobi International Financial Centre (NIFC). In addition with a projected portfolio of up to Ksh.75.5 billion.
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