BOOST

EU promises to pump Sh2.8 billion in Kenyan businesses

In Summary
  • Ngatia urged the EU to partner with the chamber on the proposed Small and Medium Enterprises (SMEs) policy making process
  • The European Union has remained Kenya’s biggest export market
EU Ambassador to Kenya Simon Mordue (Left) exchange pleasantries with the Kenya National Chamber of Commerce and Industry president Richard Ngatia during a courtesy call at the chamber head offices in Nairobi
Image: COURTSY

The European Union (EU) representative to Kenya Ambassador Simon Mordue has committed to continue funding private sector projects that touch on renewable energy and climate change.

Speaking when he paid a courtesy call to the Kenya National Chamber of Commerce and Industry (KNCCI) president Richard Ngatia in Nairobi, the envoy said EU will fund projects of up to 25 million (Sh2.8 billion).

“The EU has many ways to support private sector and blending these opportunities can leverage 1.5 billion Euros to invest in Kenya annually to develop Kenya’s sectors more so those touching on the Big Four Agenda,” Mordue said.

 

Ngatia urged the EU to partner with the chamber on the proposed Small and Medium Enterprises (SMEs) policy making process to achieve more SME friendly regulatory and policy environment.

“The Chamber is ready to work together with the EU to support key investments and industrialization agenda in key areas such as agribusiness and agro processing, ICT, infrastructure and energy. Kenya has unlimited investment opportunities.” Ngatia said.

The European Union has remained Kenya’s biggest export market and also a major source of funding for regional security, investment and financial support for Kenya’s development and major partner in bilateral development.