Liquid Telecommunications Kenya Limited has received financing worth $ 220 million from British International Investment(BII), UK’s development finance institution, to improve access to quality internet service in Kenya.
According to Nick O’ Donohoe, British International Investment(BII) Chief Executive, this is part of its drive to drive innovation and the digital economy. Liquid telecommunications is considered one of the largest telecommunications firms in Africa. The firm is located at Sameer Business Park, along Mombasa Road, Nairobi.
O’Donohoe disclosed this while speaking at a function in Nairobi to launch the rebranded Development Finance Institution (DFI) in Kenya.
He joined British High Commissioner Jane Marriott at her Nairobi residence. In attendance were 150 guests, including business leaders and BII’s investment partners.
In his address, O’Donohoe said BII has long history in Kenya, which dates to 1948.
“Our history in Kenya shows our appetite to grow and shape markets. We helped establish the Kenya Tea Development Authority in 1964, and we have continued to support the company’s growth to become the world’s third-largest exporter of tea and Kenya’s second-largest source of foreign exchange,” said O’Donohoe.
He said BII is keen on developing Kenya’s digital infrastructure and new technologies as well as support ambitious entrepreneurs who are creating solutions that can transform societies.
“As we embark on this new chapter, we know the Kenya will continue to hold an important place in our future and we look forward to working with all of you in the decades to come,” said O’Donohoe.
BII has an office in Kenya, which is headed by Seema Dhanani.
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