• Raab announced that there will be a Sh5.2 billion of UK Aid to be matched by Sh3.5 billion of private investment.
• Uhuru used the forum to urge UK investors to take advantage of 10 opportunities in Kenya worth up to $5 billion (Sh542 billion).
UK Foreign Secretary Dominic Raab has announced a Sh20 billion support fund for Kenya's Big Four agenda.
Speaking at an investment forum attended by President Uhuru Kenyatta in London on Tuesday, Raab said the investment includes Sh8.7 billion for 10,000 green affordable homes.
Raab announced there will be a Sh5.2 billion of UK Aid to be matched by Sh3.5 billion of private investment.
"This package of investments will create new jobs and unlock new opportunities for the UK and Kenyan businesses by strengthening the relationship between Nairobi and the City of London," Raab said.
Uhuru used the forum to urge UK investors to take advantage of 10 opportunities in Kenya worth up to $5 billion (Sh542 billion).
The President said Kenya has created an environment that makes it a key investor destination.
He noted that on the public-private partnership front, Kenya has adopted a private sector-led growth strategy as an integral component of Vision 2030 and the Big Four agenda.
"We now have the opportunity to further deepen our excellent historical relationships, by offering a number of ripe PPP investment opportunities in Kenya. I invite the private sector in the United Kingdom to partner with us as we deliver on this vision for the people of Kenya," Uhuru said.
The 10 projects that the President listed are Nairobi Smart Street Lights, the Nairobi Bus Rapid Transport System, the Intelligent Traffic Management System, the Galana Kulalu Food Security and the Lamu Fishing Port.
The others are the Moi Teaching and Referral Hospital Training Complex, the Mombasa Industrial Park. Meru Cancer Centre, Kenyatta National Hospital and Lamu Port.
Uhuru is on a three-day working tour of the UK that will culminate in the Global Education Summit, which he will co-host with Prime Minister Boris Johnson.
On Wednesday, the President is scheduled to meet Prince Charles at Sandringham Palace and later hold bilateral talks with PM Johnson at his country residence in Chequers.
Earlier, the UK also announced Sh550 million of new funding to accelerate Kenya’s climate change initiatives. The funding will support renewable energy projects, clean cooling and forest restoration.
This was during bilateral talks with COP26 president-Designate Alok Sharma and his delegation that included British High Commissioner to Kenya Jane Marriott at Kew Gardens in London.
Uhuru and Sharma discussed the upcoming 2021 United Nations Climate Change Conference (COP26) in Glasgow in November.
The President said the need for European nations to honour their climate action commitments to developing countries, especially in Africa.
Uhuru also interacted with several Kenyan and African scientists who showcased climate change mitigation and adaptation projects they are implementing on the continent.
At the same time, Uhuru witnessed the signing of two agreements aimed at enhancing investor engagement between the UK and Kenya.
The signing was done at Maison House in London, where he and Raab were hosted by Lord Mayor William Russell.
The first was an MoU launching cooperation between Nairobi International Financial Centre Authority and TheCityUK.
The MoU will provide strategic access to TheCityUK members that have a strong interest in investing and doing business in Kenya.
The second was letters of intent between Prudential Plc and the NIFC Authority.
The letters of intent are the beginning of the formal application process to establish Prudential’s regional Africa headquarters in the NIFC.
This will be the first firm to be established in the NIFC.
Exchange rate as of July 27, 2021: $1=Sh108.5