President Uhuru Kenyatta on Monday 27 August, 2018 urged the U.S government to facilitate the operation of U.S businesses Africa. This was honored with a $237 million energy deal.
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 U.S Power Africa Initiative to double the number of people in Sub-Saharan Africa with access to electricity.
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 organization.
According to President Kenyatta, “Kenya is open for business and all we want to do is package our partnership in a way that it will support the ‘Big Four agenda’ projects – boosting manufacturing industry, promoting food security, providing affordable housing and universal healthcare coverage – present major opportunities for local and foreign investors.”
Furthermore, he stated that his administration plans to rollout innovative health insurance options, set-up local pharmaceutical companies, upgrade and manage healthcare facilities and establish specialized treatment centers.
“Given our long and well-established relationship, we can do more together and I invite the U.S companies to walk with us on the ‘Big Four’ journey.
“With so many opportunities open to us and given our long and well-established relationship, the time is ripe to make a change in our business engagement.”
President Kenyatta pointed out that the economy remained buoyant and resilient, registering a 5.5 percent average growth rate over the last five years in spite of acrimonious presidential elections and drought in 2017.
Peter Tichansky, Commerce Secretary Ross and BCIU CEO commended the President for creating a suitable environment for the private sector to thrive in Kenya. The U.S business executives expressed their desire to increase investments in Kenya following the President’s assurances.