The UK Government through its Foreign Secretary Jeremy Hunt has committed to funding several projects in Kenya. The decision is expected to result in more employment opportunities, improved trade ties, and increased investment possibilities.
British firm De La Rue committed to invest KSh1.4 billion in Kenya to boost its local business. The company deals in the production of; identification documents like passports and Identity Cards, tax stamps, and currency. The capital injection will lead to new employment opportunities, improved business for local supplies, and faster economic growth.
UK power generating company Globeleq offered KSh6.9 billion for the Malindi Solar Power project. The coastal region often suffers from power outages which affect business productivity. The solar plant is expected to provide 250 new jobs for the locals and generate clean and affordable power by 2020. Additionally, economic productivity in the area will increase due to the reliable electric power supply.
The Kenya Catalytic Jobs Fund, financed by the British government, pledged to provide grants and technical assistance to innovative startups in Kenya such as Ten Senses Africa, Savanna Circuit, TakaTaka Solutions, and Build Her.
UK’s deputy High Commissioner to Kenya Susie Kitchens described the meeting with Kenyan officials and British representatives as “really constructive.”
Business Analyst at Tunayo Business Magazine | Follow me on Twitter