Kenyans in the private sector have a USD40 billion (Sh 4 trillion)opportunity to invest in sustainable development, a recent study by Standard Chartered has said.
Dubbed Opportunity 2030, the study identifies opportunities for the private sector to contribute to three infrastructure-focused goals between now and 2030: SDG 6: Clean Water and Sanitation, SDG 7: Affordable and Clean Energy and SDG 9: Industry, Innovation and Infrastructure.
“For the goals to be met, the private sector must play a central role in deploying capital to get projects off the ground,” said Kariuki Ngari, CEO & MD at Standard Chartered.
With 56 per cent of Kenyans lacking access to clean water and sanitation, there is a significant opportunity for the private sector to help achieve SDG 6.
Achieving and maintaining universal access to electricity is also represents a USD15.6 billion private-sector opportunity.
This takes into account the proportion of the Kenyan population currently without electricity access, projected population growth, and the growing demand for power as the economy develops.
“With one of the fastest-growing economies in Sub-Saharan Africa, Kenya is a promising country for investment,” Ngari added.
In Industry, Innovation and Infrastructure the report highlights private-sector investment opportunities in transport and improving digital access.
Securing full digital adoption in Kenya would require private-sector investment of around USD13 billion.
The water sector presents a USD 2.3 billion investment opportunity as 56 per cent of Kenya’s population still do not have access to clean water and sanitation facilities.
