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UK firms to invest Sh15b in Kenya
What you need to know:
- The investors are targeting the financial services sector, where some of the firms are keen on insurance and raising funds for the ongoing big infrastructure projects.
- During the visit, the London mayor met President Kenyatta, several Cabinet secretaries, Central Bank of Kenya Governor Njuguna Ndung’u and Nairobi Governor Evans Kidero.
The United Kingdom has tabled mouth-watering investment deals that could assist Kenya achieve Vision 2030.
In her recent tour of the country, the Mayor of the City of London, Alderman Fiona Woolf, with her 25-member delegation, promised investments of up to Sh15 billion in the energy sector, financial services and education.
The representatives of UK firms are keen on pumping money into the economy. They include De La Rue, Prudential and Barclays.
The British High Commission Thursday said in a statement that the companies have been attracted by previous successes recorded in doing business in the country.
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“This investment underpins a modern, vibrant relationship, which is delivering for both our countries as we work towards our shared goal of a more prosperous and secure Kenya,” the statement said.
The investors are targeting the financial services sector, where some of the firms are keen on insurance and raising funds for the ongoing big infrastructure projects.
At least Sh7.5 billion worth of new investments, including that from PricewaterhouseCoopers and Prudential Plc are expected following the visit. The latter is set to take over local firm Shield Assurance in a Sh1.5 billion deal.
During the visit, the London mayor met President Kenyatta, several Cabinet secretaries, Central Bank of Kenya Governor Njuguna Ndung’u and Nairobi Governor Evans Kidero.
