· Britain and its development arm CDC Group proposes to invest $1 billion in various sectors in Kenya over the next five years.
· After the post –Brexit deal signed in late 2020, the UK has scaled up its engagement with Nairobi in recent years.
Britain and its development arm CDC Group proposes to invest $1 billion in various sectors in Kenya over the next five years. After the post –Brexit deal signed in late 2020, the UK has scaled up its engagement with Nairobi in recent years. President Uhuru Kenyatta and British Prime Minister Boris Johnson at a meeting in London two years ago signed a strategic partnership deal. Vicky Ford, Britain’s minister for Africa said that the proposal was in line with the agreement signed between the two national leaders.
One of the significant projects by the UK is to build a 425-acre new rail hub in the capital Nairobi to be built by the British engineering firm Atkin Global. The plan is to design a modern, eight-platform central rail station and a public space, that can host commercial and residential developments in the railway transit hub. The estimated cost of the initial phase is 1.35 billion Kenyan shillings. The railway city project will take several years to complete. KPMG, the international consulting firm has been assigned the task of looking for investors into the segments of the project with commercial viability, including office towers, residential homes, and multi-story car parks.
Tenbite Ermias, the CDC Group’s Africa head said that The UK proposes to invest $1 billion in various sectors, including climate financing, over the next five years.Kenya currently accounts for 10% of the agency’s $4 billion investment portfolio in Africa, said Tenbite.
Kenya’s infrastructure development in the past decade has been largely driven by Chinese funds and firms.
