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Tuesday, February 25, 2020

Kenya, U.S investors sign investment deals worth $100m

Kenyan and visiting United States investors on Thursday signed agreements valued at 100 million U.S. dollars during a day-long conference in Nairobi.

The deals agreed upon cover both public and private sector investments and will mostly be channeled into Big Four leaning projects that focus on affordable healthcare, manufacturing, food security and housing.

According to a document released during the meeting, some of the agreements agreed upon include a 20 million dollar deal between the Kenyan government and American firm Medtronic for a medical dialysis centre whose scope will cover strengthening specialized medical services in the country.

Others include a partnership agreement between Rendeavour and Unity Homes for the construction of 1,200 affordable homes in Tatu City in Kiambu County east of Nairobi, worth about 40 million dollars; a 10 million dollars credit line from World Business Capital to Victoria Commercial Bank as well as projects and investments financing arrangement between USAID Power Africa and the Kenyan government designed to enable Kenya achieve its objective of ensuring universal electrification by 2022.

President Uhuru Kenyatta who led senior government officials at the conference negotiated the deals with U.S. private sector.

Meanwhile, the American government said it also signed a Cooperation Framework with Kenya showing commitment to supporting Kenya’s energy sector goals.

According to government statistics, the U.S. is Kenya’s seventh largest trading partner with overall trade standing at 1.04 billion dollars for the year 2017. It is also Kenya’s third leading export destination at 470 million dollars.

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