27 August 2018

Kenya: Govt Inks Sh23bn Deals With U.S. Firms

Photo: Daily Nation
President and Mrs Trump welcome President and Mrs Kenyatta to the White House on Monday, August 27.

Washington, DC — Kenya has signed agreements with US companies allowing $238 million (Sh23bn) of investments in wind power and food security.

President Uhuru Kenyatta on Monday urged the US government to facilitate the operation of US businesses Africa.

The Overseas Private Investment Corporation (Opic) and Kipeto Wind Energy Company signed documents to close a $232 million deal in financing the construction and operation of a 100-megawatt grid-connected wind power plant south of Nairobi.

The plant will provide a more reliable source of energy to the national grid and support the US Power Africa Initiative to double the number of people in Sub-Saharan Africa with access to electricity.

FOOD SECURITY

The second agreement was a $5 million letter of commitment to expand the distribution network of Twiga Foods and improve food security and agricultural wages in Kenya.

It was signed between Twiga Foods and Opic in the presence of President Kenyatta during his meeting with business executives of leading US companies under the umbrella of Business Council for International Understanding (BCIU).

Dr Kenneth Namunje and Mr Grant Brooke signed for Kipeto Energy and Twiga Foods, respectively, while Ray Washburne, the President and Chief Executive of Opic, signed on behalf of his organisation.

"Kenya is open for business and all we want to do is package our partnership in a way that it is mutually beneficial to you as a private sector and the people of Kenya," President Kenyatta said. - PSCU

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