Commonwealth Business Communications
  • HOME
  • ABOUT
  • COUNTRIES
    • AFRICA
      • BOTSWANA
      • CAMEROON
      • GAMBIA
      • GHANA
      • KENYA
      • KINGDOM OF eSWATINI
      • LESOTHO
      • MALAWI
      • MAURITIUS
      • MOZAMBIQUE
      • NAMIBIA
      • NIGERIA
      • RWANDA
      • SEYCHELLES
      • SIERRA LEONE
      • SOUTH AFRICA
      • TANZANIA
      • UGANDA
      • ZAMBIA
    • ASIA
      • BANGLADESH
      • BRUNEI DARUSSALAM
      • INDIA
      • MALAYSIA
      • MALDIVES
      • PAKISTAN
      • SINGAPORE
      • SRI LANKA
    • CARIBBEAN AND AMERICAS
      • ANTIGUA AND BARBUDA
      • BAHAMAS
      • BARBADOS
      • BELIZE
      • CANADA
      • DOMINICA
      • GRENADA
      • GUYANA
      • JAMAICA
      • SAINT LUCIA
      • ST KITTS AND NEVIS
      • ST VINCENT AND THE GRENADINES
      • TRINIDAD AND TOBAGO
    • EUROPE
      • CYPRUS
      • MALTA
      • UNITED KINGDOM
    • PACIFIC
      • AUSTRALIA
      • FIJI
      • KIRIBATI
      • NAURU
      • NEW ZEALAND
      • PAPUA NEW GUINEA
      • SAMOA
      • SOLOMON ISLANDS
      • TONGA
      • TUVALU
      • VANUATU
  • AREAS OF WORK
    • GOVERNMENT
    • EDUCATION
    • HEALTH
    • ICT
    • INFRASTRUCTURE DEVELOPMENT
    • NATURAL RESOURCES
    • SUSTAINABLE DEVELOPMENT GOALS
    • TRADE AND INVESTMENT
  • OUR PUBLICATIONS
    • CHOGM
      • COMMONWEALTH HEADS OF GOVERNMENT INTERIM REPORT 2020
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2018 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2015 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2011 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2009 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2007 REPORT
    • HEALTH
      • COMMONWEALTH HEALTH REPORT 2022
      • COMMONWEALTH HEALTH REPORT 2020
    • EDUCATION
      • COMMONWEALTH EDUCATION REPORT 2021
      • COMMONWEALTH EDUCATION REPORT 2019
    • MINISTERS
      • MINISTERS REFERENCE BOOK COMMONWEALTH 2017
      • MINISTERS REFERENCE BOOK COMMONWEALTH 2015
      • MINISTERS REFERENCE BOOK COMMONWEALTH 2014
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2011
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2010
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2009
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2008
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2007
    • FINANCE
      • COMMONWEALTH FINANCE MINISTERS REPORT 2012
      • COMMONWEALTH FINANCE MINISTERS REFERENCE REPORT 2010
      • COMMONWEALTH FINANCE MINISTERS REFERENCE REPORT 2009
      • COMMONWEALTH FINANCE MINISTERS REFERENCE REPORT 2008
      • COMMONWEALTH FINANCE MINISTERS REFERENCE REPORT 2007
    • TRADE AND INVESTMENT
      • AFRICA INFRASTRUCTURE INVESTMENT REPORT 2013
    • QUEEN AND COMMONWEALTH
      • QUEEN & COMMONWEALTH: CELEBRATING HER MAJESTY’S PLATINUM JUBILEE
      • QUEEN & COMMONWEALTH: 90 GLORIOUS YEARS
      • QUEEN & COMMONWEALTH: CELEBRATING HER MAJESTY’S DIAMOND JUBILEE
  • CONTRIBUTORS
  • CONTACT US
Commonwealth Business Communications
Commonwealth Business Communications
  • HOME
  • ABOUT
  • COUNTRIES
    • AFRICA
      • BOTSWANA
      • CAMEROON
      • GAMBIA
      • GHANA
      • KENYA
      • KINGDOM OF eSWATINI
      • LESOTHO
      • MALAWI
      • MAURITIUS
      • MOZAMBIQUE
      • NAMIBIA
      • NIGERIA
      • RWANDA
      • SEYCHELLES
      • SIERRA LEONE
      • SOUTH AFRICA
      • TANZANIA
      • UGANDA
      • ZAMBIA
    • ASIA
      • BANGLADESH
      • BRUNEI DARUSSALAM
      • INDIA
      • MALAYSIA
      • MALDIVES
      • PAKISTAN
      • SINGAPORE
      • SRI LANKA
    • CARIBBEAN AND AMERICAS
      • ANTIGUA AND BARBUDA
      • BAHAMAS
      • BARBADOS
      • BELIZE
      • CANADA
      • DOMINICA
      • GRENADA
      • GUYANA
      • JAMAICA
      • SAINT LUCIA
      • ST KITTS AND NEVIS
      • ST VINCENT AND THE GRENADINES
      • TRINIDAD AND TOBAGO
    • EUROPE
      • CYPRUS
      • MALTA
      • UNITED KINGDOM
    • PACIFIC
      • AUSTRALIA
      • FIJI
      • KIRIBATI
      • NAURU
      • NEW ZEALAND
      • PAPUA NEW GUINEA
      • SAMOA
      • SOLOMON ISLANDS
      • TONGA
      • TUVALU
      • VANUATU
  • AREAS OF WORK
    • GOVERNMENT
    • EDUCATION
    • HEALTH
    • ICT
    • INFRASTRUCTURE DEVELOPMENT
    • NATURAL RESOURCES
    • SUSTAINABLE DEVELOPMENT GOALS
    • TRADE AND INVESTMENT
  • OUR PUBLICATIONS
    • CHOGM
      • COMMONWEALTH HEADS OF GOVERNMENT INTERIM REPORT 2020
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2018 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2015 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2011 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2009 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2007 REPORT
    • HEALTH
      • COMMONWEALTH HEALTH REPORT 2022
      • COMMONWEALTH HEALTH REPORT 2020
    • EDUCATION
      • COMMONWEALTH EDUCATION REPORT 2021
      • COMMONWEALTH EDUCATION REPORT 2019
    • MINISTERS
      • MINISTERS REFERENCE BOOK COMMONWEALTH 2017
      • MINISTERS REFERENCE BOOK COMMONWEALTH 2015
      • MINISTERS REFERENCE BOOK COMMONWEALTH 2014
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2011
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2010
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2009
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2008
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2007
    • FINANCE
      • COMMONWEALTH FINANCE MINISTERS REPORT 2012
      • COMMONWEALTH FINANCE MINISTERS REFERENCE REPORT 2010
      • COMMONWEALTH FINANCE MINISTERS REFERENCE REPORT 2009
      • COMMONWEALTH FINANCE MINISTERS REFERENCE REPORT 2008
      • COMMONWEALTH FINANCE MINISTERS REFERENCE REPORT 2007
    • TRADE AND INVESTMENT
      • AFRICA INFRASTRUCTURE INVESTMENT REPORT 2013
    • QUEEN AND COMMONWEALTH
      • QUEEN & COMMONWEALTH: CELEBRATING HER MAJESTY’S PLATINUM JUBILEE
      • QUEEN & COMMONWEALTH: 90 GLORIOUS YEARS
      • QUEEN & COMMONWEALTH: CELEBRATING HER MAJESTY’S DIAMOND JUBILEE
  • CONTRIBUTORS
  • CONTACT US

UK MOBILISES INVESTMENT INTO KENYA’S BIG FOUR PROJECTS

  • CBC News Team
Total
0
Shares
0
0
0

As President Kenyatta was making his three-day visit to London, the UK announced KES 20 billion of new government and private investment into Big Four Projects, including affordable housing and manufacturing.

Speaking at Mansion House in the City of London, UK Foreign Secretary Dominic Raab announced KES 5.2 billion of UK aid to be matched by KES 3.5 billion of private investment to finance 10,000 green affordable homes for Kenyans.

These quality homes will be energy and water efficient properties for low and middle-income families, and will contribute to Kenya’s goal of building 500,000 new affordable homes by 2022. The investment will go directly into projects, and is a combination of UK government aid and privately raised funds.

The UK also announced KES 550 million of new UK funding to accelerate Kenya’s climate transition, including projects supporting renewable energy, clean cooling, and forest restoration – including Kaptagat Forest.

In the London’s historic financial district, the Foreign Secretary also announced:

  • The launch of the Nairobi International Financial Centre, in partnership with the City of London. This partnership will deepen links between Kenya and London, the world’s leading financial centre – cementing Nairobi’s status as a financial hub;
  • KES 67 million of new UK funding for policy advice and technical assistance to support the development of green manufacturing in Kenya, including manufacturing of electric vehicles. This builds on the UK’s Manufacturing Africa programme, which has already supported KES 4.2 billion of new manufacturing investment into Kenya;
  • The completion of the KES 33 billion Kipeto Wind Farm, backed by the UK’s Actis in partnership with the US Government.

UK Foreign Secretary, Dominic Raab, said:

“This £132 million package of new UK-Kenya deals from the UK government and British firms will support investment in the region, including building new green affordable homes, connecting households to clean energy, and boosting manufacturing.”

“This package of investments will create new jobs and unlock new opportunities for UK and Kenyan businesses by strengthening the relationship between Nairobi and the City of London.”

Jane Marriott, the British High Commissioner to Kenya, said:

“UK partnerships have the interests of Kenyans at their core. Our significant support on affordable housing and green opportunities will deliver sustainable jobs to last, building on the success our long-lasting friendship.”

Ukur Yatani, Kenya’s Cabinet Secretary National Treasury and Planning, said:

“Through collaboration with partners like The City UK, the NIFC will attract increased investment and financing into the country, which will not only contribute to the wider efforts to drive economic growth following the pandemic, but it will also support the achievement of our wider economic goals under Kenya’s Vision 2030 roadmap.”

Earlier this year, the UK and Kenya ratified a new Economic Partnership Agreement to provide continuity for KES 200 billion of annual trade between Kenya and the UK, including duty and quota free access to the British market for Kenyan exports.

The Foreign Secretary also announced that the UK Government will help Kenyan firms take advantage of this trade deal, by funding a KES 2.7 billion digital customs system to help smooth trade.

Learn More: Foreign, Commonwealth & Development Office, UK

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
Related Topics
  • AFRICAN TRADE
CBC News Team

Previous Article

FUNDING GEOTHERMAL ENERGY EXPLORATION IN SAINT LUCIA

  • CBC News Team
Read More
Next Article

INDIA’S OPPORTUNITY TO BECOME A GLOBAL MANUFACTURING HUB

  • CBC News Team
Read More
You May Also Like
Antibiotic-resistant Gonorrhea emerges in Kenya
Read More
  • Health
  • AFRICA
  • HEALTH
  • KENYA

Antibiotic-resistant Gonorrhea emerges in Kenya

  • CBC News Team
  • 16 January 2023
Kenya to revolutionise higher education with open learning
Read More
  • Education & Youth
  • AFRICA
  • KENYA

Kenya to revolutionise higher education with open learning

  • CBC News Team
  • 11 January 2023
Extra funding announced for Pakistan flood-hit areas
Read More
  • Natural Resources
  • Trade & Investment
  • Environment & Sustainability
  • UNITED KINGDOM
  • PAKISTAN

Extra funding announced for Pakistan flood-hit areas

  • CBC News Team
  • 11 January 2023
Celebrating Kenya Independence Day
Read More
  • KENYA

Celebrating Kenya Independence Day

  • CBC News Team
  • 12 December 2022
Secretary-General congratulates Kenya's President-Elect
Read More
  • Heads of Government
  • KENYA

Secretary-General congratulates Kenya’s President-Elect

  • CBC News Team
  • 7 September 2022
Commonwealth steps in to allay concerns over Kenya elections results
Read More
  • Heads of Government
  • KENYA

Commonwealth steps in to allay concerns over Kenya election result

  • CBC News Team
  • 18 August 2022
Kenya elections proceed with transparency
Read More
  • Heads of Government
  • KENYA

Kenya elections proceed peacefully

  • CBC News Team
  • 11 August 2022
Polls open in Kenyan presidential elections
Read More
  • Heads of Government
  • KENYA

Polls open in Kenyan presidential elections

  • CBC News Team
  • 9 August 2022
OUR LATEST PUBLICATION

Subscribe to our Newsletter

PARTNER FOCUS
Recent Posts
  • Australian flag. Waving australian flag 3d illustration.
    Celebrating Australia Day
  • Diphtheria outbreak in Nigeria, 38 dead
    Diphtheria outbreak in Nigeria, 38 dead
  • Australia signs UNESCO education treaty
    Australia signs UNESCO education treaty
  • Namibia COVID
    Namibia blames COVID for poor academic results

Subscribe

Subscribe now to our newsletter

Commonwealth Business Communications
  • HOME
  • About
  • Contact
  • Terms of Use
  • Privacy Policy
  • Cookie Policy
© 2022 Commonwealth Business Communications Limited. All Rights Reserved.

Input your search keywords and press Enter.