President William Ruto and UK Prime Minister Kier Starmer signing Kenya-UK strategic partnership agreement. Photo | courtesy.
President William Ruto and UK Prime Minister Keir Starmer have signed a renewed five-year Kenya-UK Strategic Partnership agreement aimed at unlocking over Sh427 billion in investments.
According to a statement seen by JEDCA MEDIA, the agreement was reached following bilateral talks held in London.
The investment package focuses on four key areas:
- Trade and investment
- Green growth and climate action
- Science and technology
- Peace and security.
As part of efforts to strengthen the innovation sector, the UK has committed Sh17.7 billion to support over 500 start-ups and 5,000 digitally driven Small and Medium-sized Enterprises (SMEs), a move expected to create 30,000 new jobs in the digital economy.
“The two nations have also committed to enhancing collaboration on artificial intelligence and other emerging technologies to promote inclusive and sustainable digital development,” the statement reads.
In addition, the UK has pledged Sh266.1 billion in new investments across various sectors in Kenya, along with Sh32.3 billion in capital markets funding, all aimed at accelerating economic growth by 2030.
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As part of the deal, the UK will also establish a regional underwriting hub in Nairobi under the Nairobi International Financial Centre (NIFC), which is expected to manage up to Sh75.5 billion.
“These developments signal growing investor confidence in Kenya’s economic and financial environment,” the statement reads.
To tackle climate change, both countries have pledged to mobilize at least Sh35.5 billion in green financing. The funds will support projects designed to address environmental challenges and promote sustainable development.
