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Uhuru charms US investors, says Kenya ready for Americans

Uhuru urged more investments for the his Big Four Agenda.

In Summary
  • President Uhuru has called on US companies to invest in the country mainly in sectors that will support government's Big 4 Agenda.
  • He says Kenya is seeking sustainable business partnerships with American corporations.

President Uhuru Kenyatta has asked US investors to make Kenya their investment destination of choice in Africa.

President Uhuru Kenyatta has asked US investors to make Kenya their investment destination of choice in Africa.

The President said his administration's Big 4 Agenda, particularly the manufacturing component where the government's plan is to lift the sector's contribution to the economy from the current 8.4 per cent of GDP to 15 per cent by 2022, offers limitless investment opportunities for US companies.

"The sector (manufacturing) presents major opportunities for local and foreign investors in areas such as agro-processing through value addition in key value chains such as textiles and leather, the maritime sector, construction, iron and steel, oil and gas," the President said on Wednesday.

 

Uhuru who spoke at a private sector forum hosted by the American Chamber of Commerce, and attended by tens of top executives from leading US multinationals, said Kenya is seeking sustainable business partnerships with American corporations.

"As we deepen the relationship between Kenya and the United States, it is partnerships with corporations such as the ones you represent, which drive and sustain the relationship," the President told the executives led by Scott Eisner, President of the US-Africa Business Center who is also the Senior Vice President of the US Chamber of Commerce. 

The President further called for investments in food and nutrition security, affordable housing and Universal Health Coverage (UHC), areas he said have huge investment potential. 

The government targets to construct 500,000 affordable housing units by 2022. Uhuru who is in New York for  the 74th session of the United Nations General Assembly (UNGA 74) rallied the American companies to channel their resources into the affordable housing program. 

"More than half of the funding for this program (housing) will be raised from private sector sources. We will also be seeking investments in alternative building materials and technologies," he said. 

On UHC, the President called for partnerships especially in the supply of  specialized medical equipment, establishment of pharmaceutical companies, upgrading and management of health facilities, and implementation of innovative health financing options. 

Besides the four priority areas, the President invited the investors to explore opportunities in ICTs, infrastructure, tourism and the blue economy. 

 

Uhuru who is leading a strong Kenyan delegation, that includes Nakuru Governor Lee Kinyanjui, has assured US investors of full government support.

"We seek to ensure that only will your businesses thrive but that you will contribute to Kenya’s development through job creation, resource and technology transfer," he told corporate leaders. 


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