President William Ruto has pitched Kenya as Africa’s next big investment
hub, urging global financiers and corporations to take advantage of the
country’s stability, economic reforms and strategic market access.
Speaking in New York, when he addressed the US-Kenya Business and Investment Roundtable meeting, bringing together CEOs of leading American multinationals, Ruto said Kenya had laid a
solid foundation for growth, backed by predictable policies and macroeconomic
resilience.
“Kenya is now the sixth largest economy in
Africa, recently upgraded by external imports from B minus to B, a clear signal
of stronger macroeconomic fundamentals,” he told investors.
According to the President, inflation has
averaged 3.8 per cent between January and October 2025, while the exchange rate
has held steady at between Sh129 and Sh131 to the dollar for 18 months. Foreign
reserves, he added, had doubled over the past three years.
Ruto pointed to diaspora remittances, which
reached $5.1 billion, and pension assets that have grown to $18 billion, as key
drivers of long-term capital.
He further highlighted the Nairobi Securities Exchange’s recognition as
Africa’s best-performing bourse in 2024.
“We issued an infrastructure asset-backed
security worth over $340 billion, which was oversubscribed by huge markets,” he
said, adding that the exchange is targeting 40 new listings by 2029. Among them
is a landmark $1.15 billion IPO of the Kenya Pipeline Company.
The President also noted the launch of the
Nairobi International Financial Centre, already hosting five global financial
players.
On investment protection, Ruto assured
investors of a strong legal and institutional framework.
He cited constitutional guarantees against expropriation, robust contract enforcement and clear dispute resolution mechanisms.
“And you can take it not
from me, but from companies already operating in Kenya,” he said.
He also emphasised Kenya’s access to wider markets.
With a population of 55 million, the country serves as the natural
gateway to Eastern and Central Africa and is integrated into the $3.7 trillion
African Continental Free Trade Area.
Kenya, he added, enjoys privileged access to
the US through AGOA, to the European Union under an economic partnership
agreement signed in 2024, to the UK through a bilateral trade pact, and to the
UAE under a comprehensive partnership agreement.
The East African Community also offers a combined market of more than $50
billion.
The Head of State further outlined reforms to
improve competitiveness, including the zero-rating of VAT on export services,
tax changes allowing corporates to offset claims against future liabilities,
and the removal of a 30 per cent local equity requirement for ICT companies.
“We have created a one-stop centre for
investors, and by June next year, it will be fully digital, allowing permits
and licenses to be secured online,” Ruto said.
He described Kenya as Africa’s digital
gateway, citing M-Pesa’s 29 billion transactions worth $314 billion in 2024. He
noted that over 300 multinational firms have already set up in Nairobi.
“In short, ladies and gentlemen, Kenya is open
and ready to do business with you,” Ruto concluded.
“We offer stability, world-class talent, green energy and dependable connectivity. We bring the resolute commitment to be your trusted partner in building ventures that deliver strong returns and lasting impact.”
