Kenya has secured £1.3 billion (KSh170 billion) from the UK in investments deals during the UK-Africa Investment Summit.
In this case, the investments will focus on housing, finance, renewables, and entrepreneurship.
Furthermore, UK signed a new memorandum of Understanding to collaborate on mobilizing private finance into Kenyan projects. This partnership will bring British expertise and mechanisms to increase economic development in Kenya.
Kenya will benefit from a £30m (KSh3.9 billion) investment in affordable energy-efficient housing, with the construction of 10,000 low-carbon homes for rent and sale.
Moreover, Diageo will investment £167 million (KSh22 billion) to build environmentally friendly breweries in Kenya and wider East Africa.
Diageo already invested £120m into EABL’s Kisumu Brewery in 2017 supporting over 100,000 direct and indirect jobs. This includes recruiting 15,000 new farmers taking the total number of farmers in their Kenyan supply chain to 45,000.
Moreover, the UK commits to support a range of infrastructure projects across Africa including Kenya that are attractive to businesses and investors. Furthermore, sustainability is a top priority for these infrastructural projects focusing on low carbon emissions and resilience to changing climate.
The UK-Africa Investment Summit brings together 21 African countries as well as UK and African companies.