GES, President Obama’s visit is worthy blessing to Vision 2030 agenda

That Kenya stood to gain from the sixth Global Entrepreneurship Summit and President Obama’s visit was not debatable from the onset. Quantifying the gains going forward proves a herculean task.

What is certain is that Kenya’s national development agenda has received a new kiss of life. Kenya’s relentless parade of new tech innovation and planned infrastructure were easily top gainers of the twin historical events. As Kenya joins the world’s intricate ecosystem of global business revolutionised by the power of technology, Kenya’s emerging technology, though in its nascent stage has shown its significance to drive massive economic transformations in coming years.

Kenyan tech disruptions like M-Pesa, Akirachix, Weza Tele, Ushahidi, Icow, and Alumunum Green among others celebrated at the GES were a timely showcase of Kenya’s innovative ingenuity. That these innovations have attracted American investments and interests from celebrated venture capitalists like Steve Case is laudable. Important to note is that majority of those tech start-ups will also benefit from Sh102 billion ($1 billion) commitment by President Obama, further unleashing their potential.

Additionally, with one of the best investor-friendly ICT regulatory climates in Africa, a diversified middle-income economy, a well-educated labour force, we’ve seen the impact of the US blue-chip companies in our economy. In the last two years, IBM has established a Sh10 billion ($100 million) Africa research facility in Nairobi. Following the GES, IBM has committed a further Sh6 billion, with Kenyan universities expected to receive a lion’s share of the funding.

Google East Africa, Microsoft4Afrika, Intel have made massive investments in the country, while General Electric (GE) has since invested billions of dollars in various sectors. These developments build credence to Kenya’s ‘Silicon Savannah’ moniker, born from the Government’s Vision 2030’s goal to use ICT in cultivating a knowledge based economy. The progress vindicates Vision 2030 inspiration to shift current industrial development path towards innovation – where creation, adoption, adaptation and use of knowledge remain the key source of economic growth.

Following bilateral talks, Kenya struck landmark deals that will highly influence execution of the national development blueprint. First, the Sh2.4 trillion ($24.5 billion) Lapsset project, poised to become Africa’s largest infrastructural project, is in line to benefit from a Public Private Partnership (PPP) funding negotiated between Kenya and US to help develop the development of a transport corridor connecting a new port at Lamu, to Ethiopia and Southern Sudan.

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The significance of Lapsset’s completion cannot be overstated. It will open up of vast parts of our country conferring the country a lifeline for economic growth support. It will also create a trans-boundary link between Lamu and Doula, Cameroon, to the coast of the Atlantic Ocean.

Second, President Obama’s visit and energy commitment to Africa through Power Africa couldn’t have come at an opportune time. The Ministry of Energy has wrapped up Sh220 billion ($2.2 billion) deal with an American firm, Sky Power, for the development of solar power. Kipeto Power, a wind power project in Oldonyo Narok, Kajiado, also received Sh23.3 billion ($233 million) from Overseas Private Investment Corporation (OPIC), the US government development fund, further growing Kenya’s pursuit of renewable energy.

Thirdly, President Obama made substantial commitments in the health sector expected to strengthen Kenya and US public health systems that will protect women and girls from violence and help improve their health.

Fourth and agreeable to the world presently, is that terrorism has become a global and transnational phenomenon. Echoing President Obama’s announcement to Africa during the US-Africa Leaders Summit last year, “It’s very hard to attract  investment and it’s very hard to build infrastructure and it’s very hard to sustain entrepreneurship in the midst of conflict.” President Obama’s commitment, therefore to mobilise resources and work in tandem with Kenya in its counter-terrorism efforts was welcome. This sums up Vision 2030’s pursuit of a reliable and pervasive security system as a critical factor of socio-economic growth.

All these concerted efforts by the Government of the day, including co-hosting the GES will only help reinforce the national development plan, positioning Kenya as a country on the move towards transformation.