Uhuru oversees signing of Sh20 billion power, food projects, calls for more US investments
President Uhuru Kenyatta today witnessed the signing of two agreements that will see two US companies invest $238 million worth of projects in Kenya as he urged the US government to facilitate the operations of US businesses Africa.
Taking cue from President Kenyatta’s call, the US Overseas Private Investment Corporation (OPIC) and Kipeto Wind Energy Company signed documents to close a $232 million deal in financing for the construction and operation of a 100-megawatt grid-connected wind power plant south of Nairobi.
The plant will provide a more reliable source of energy to the national grid and support the US Power Africa Initiative to double the number of people in Sub-Saharan Africa with access to electric power.
The second agreement signed in the presence of President Kenyatta when he met business executives of leading US companies meeting under the umbrella of the Business Council for International Understanding (BCIU), was a $ 5 million letter of commitment in financing to expand the distribution network of Twiga Foods and improve food security and agricultural wages in Kenya.
The agreement was signed between Twiga Foods and OPIC, a US government agency.
“Kenya is open for business and all we want to do is package our partnership in a way that it is mutually beneficial to you as a private sector and the people of Kenya,” President Kenyatta said.
President Kenyatta invited more US investors to set shop in Kenya to benefit from the opportunities created by the Big Four development blueprint projects.
He said the Big Four agenda projects – pegged on boosting manufacturing to create jobs, food security, provision of affordable housing and universal healthcare coverage – present major opportunities for local and foreign investors.