President William Ruto has secured a $1 billion (Sh129,200,000) pledge towards the country’s infrastructure, following a meeting with Group Chairman of United Bank for Africa and Heir Holdings Tony Elumelu.
The meeting was held at the State House on Wednesday.
The investment, aimed at enhancing power generation, strengthening food security, and expanding road and rail networks, reflects a shared commitment to unlocking Africa’s potential through enterprise and innovation.
“Elumelu’s enduring belief that Africa’s private sector must play a central role in driving the continent’s development is exemplified through his commitment of $1 billion towards infrastructure development in Kenya,” Ruto said following the meeting.
“This pledge is more than an act of financial investment; it is a testament to a shared vision for Africa’s future built on enterprise, innovation and shared prosperity.”
President Ruto noted that the transformation of Africa demands a strong and purposeful partnership between the continent’s public and private sectors.
He added that only through such collaboration can leaders unlock the full potential of their people and resources.
“Together, we are shaping a new era of inclusive growth and sustainable development for Kenya and Africa,” Ruto added.
Elumelu restated UBA Group’s long-term commitment to Kenya, pledging to expand investments across energy, hospitality, real estate and banking.
"UBA is not just a bank. We are a development partner,” he said, adding that, Kenya’s youth, innovation and entrepreneurial drive make it one of Africa’s most exciting markets.
"We see immense opportunity for growth, and impact through UBA Kenya," Elemelu added.
With Ruto and Elumelu were Transport CS Davis Chirchir and other state officials.
As Kenya deepens its public-private partnerships, this collaboration signals a new era of sustainable development, where strategic investment meets visionary leadership to shape Africa’s future.
President William Ruto in a meting with Group Chairman of United Bank for
Africa and Heirs Holdings Group Tony Elumelu and other government
officials at the State House, Nairobi on November 12, 2025/PCS
President William Ruto in a meeting with Group Chairman of United Bank for
Africa and Heirs Holdings Group Tony Elumelu and other government
officials at the State House, Nairobi on November 12, 2025/PCS
President William Ruto with Group Chairman of United Bank for
Africa and Heirs Holdings Group Tony Elumelu at the State House, Nairobi on November 12, 2025/PCS
