The UK government has announced its commitment to finance several projects in Kenya.
Through it’s Foreign Secretary Jeremy Hunt has said the decision is expected to result in more employment opportunities, improved trade ties, and increased investment possibilities.
Since China invaded Kenya,the bilateral between Kenya and UK has been diminishing and the government is trying everything best to regain its position in Africa.
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.”