President William Ruto has unveiled $3 billion (Sh387 billion) in investment deals for Kenya, secured during the Kenya International Investment Conference, spanning 10 counties and attracting investors from over 10 countries.
The agreements, which involved partners from India, Australia, the United States, the United Kingdom, China, as well as local firms, are expected to significantly boost foreign direct investment into the country.
Speaking during the Kenya-Mozambique press briefing on Thursday, President Ruto expressed gratitude to visiting leaders, noting that their participation "has increased foreign direct investment that is going to come into our country."
He emphasized that the investments will span counties including Bungoma, Kisumu, Kericho, Nakuru, Nairobi, Kiambu, Tana River, and Mombasa, highlighting the wide geographic impact of the deals.
The President noted that the conference was not only an investment platform but also an opportunity to deepen Kenya’s bilateral relations with strategic partners. "Your excellency reflects our shared commitment to further deepening the strong bilateral relations between our two countries," Ruto said, referring to visiting leaders. He underscored the importance of Africa’s unity in light of global challenges such as the Russia-Ukraine conflict, the lingering effects of COVID-19, and rising protectionism.
A series of memoranda of understanding were signed during the conference, covering sectors such as diplomatic training, research and capacity building, youth and sports development, and correctional services. According to the President, these agreements "mark an important milestone in our bilateral relations and provide a strong framework for deepening cooperation." He stressed that their implementation would ensure that "our peoples derive maximum benefit from this partnership on trade and economic operation."
Key sectors identified for growth include pharmaceuticals, tea, edible oils, cosmetics, industrial products, agro-processing, energy, and agriculture. Ruto also highlighted the importance of improving infrastructure links, including connecting the Port of Mombasa with the Port of Beira and expanding aviation routes between Kenya and Mozambique.
The conference also focused on tourism, energy, maritime development, and counter-terrorism cooperation. "Tourism…is a key driver of economic growth, job creation, and cultural exchange," the President said, noting opportunities for joint marketing and integrated travel circuits.
President Ruto concluded by welcoming the visiting dignitaries, acknowledging the contributions of the diaspora, and reaffirming Kenya’s commitment to regional integration and sustainable development. "You can count on Kenya's support," he said, emphasizing continued collaboration to advance shared aspirations for peace, stability, and prosperity.