Saudi Arabia seeks to increase investments in Kenya

President William Ruto at the King Abdul Aziz International Conference Centre in Riyadh, where he was hosted by the Crown Prince of Saudi Arabia Mohammed bin Salman who pledged to push for more investments in Kenya's renewable energy. [Stephen Simiyu, PCS]

Saudi Arabia will use Kenya as a platform to broaden its forays into Africa, according to the Crown Prince of Saudi Arabia Mohammed Bin Salman who described Kenya as a pillar of stability and growth in the continent.

"We have to pay closer attention to it; it is a country with a future," he said.

As a model country, the Crown Prince noted that Saudi Arabia was committed to pushing for more investments in Kenya.

He noted that particular focus will be placed on the renewable energy sector.

The Crown Prince spoke on Tuesday at the King Abdul Aziz International Conference Centre in Riyadh where he held talks with President William Ruto.

President Ruto said Africa has made progress in economic growth, regional cooperation and democratisation.

However, he regretted that insecurity, violence and terrorism risk slugging the advancements.

"We must come up with a lasting solution to the conflicts in Africa if we are to progress further, said President Ruto.

The Head of State called for more cooperation from the globe to tame the crisis.

In particular, the President urged Saudi Arabia to step forward to make Africa more peaceful because of "our shared vision."

"We have a long-standing tie, yet we have not explored it fully."

The Crown Prince exuded confidence that Saudi Arabia will work with Kenya to spur regional stability.

"We definitely need security in East Africa and Red Sea. If Kenya is a success, then Africa is," he said.

Earlier, the two leaders attended the opening session of the Future Investment Initiative.

President insisted that the world can only grow and prosper when countries work together.

"That is how we can discover, navigate and expand new frontiers and markets," he said.

President Ruto also met PepsiCo's CEO for Africa, the Middle East and South Asia Eugene Willemsen.

They discussed approaches to advancing farming in Kenya to increase production.

"PepsiCo's broadening of its portfolio will accelerate Kenya's exploitation of irrigation-fed agriculture, expanding economic opportunities for our youth," he said.

By AFP 1 hr ago
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