In his trip to the US, President Uhuru Kenyatta secured investments of over $850 million for public and private entities.
The deals and engagements announced includes the intention of the U.S. Government and Kenya Government to collaborate on a $500 million project to develop a nationwide integrated digital information and communications technology infrastructure for the Government of Kenya. The collaboration will involve engaging and supporting American companies to provide the project solutions.
Here is a summary of $353 million (sh35.5 billion) private sector investments.
- Kipeto Wind Farm: The Overseas Private Investment Corporation (OPIC) and General Electric (GE) signed an agreement to provide $233 million in financing to Kipeto Energy, supporting the construction and operation of a 100-megawatt, grid-connected wind power plant south of Nairobi. Turbines will be provided by General Electric
- Acorn Housing: Overseas Private Investment Corporation and Helios Investment Partners signed a deal worth $50 million. Through a facility with Helios Investment Partners, OPIC will finance the operation of two affordable student housing projects. The Acorn Housing Project Loan Facility will be used to develop, construct, and operate rental properties of up to 10 mixed-use apartment buildings for up to 5,200 units
- Kenya Airways: Spare Parts Supply Contract with Boeing. Kenya Airways and Boeing announced a $46 million agreement to use Boeing’s Consumable and Expendable Services through a global network of parts and on-demand services for the airline’s fleet of (14) 737s and (8) 787s. Kenya Airways will be the first carrier in Africa to use Boeing’s Consumable and Expendable Services.
- Composite Manufacturing Facility for Innovative Infrastructure and Affordable Housing Solutions: Kenya Komposites signed a deal worth $15 million for construction of manufacturing facility to be located at the Science and Technology Park at Dedan Kimathi University of Technology in Nyeri County. Kenya Komposites signed an MOU with the Nyeri County Government for the provision of affordable housing, smart street lighting, and utility poles, and is in the final stages of signing an MOU with the Department of Housing for the provision of affordable housing units, innovative composite building and infrastructural materials, and development of smart communities.
- Twiga Foods: OPIC signed a letter of commitment with Twiga Foods for $5 million in financing to expand its produce distribution business and improve food security and agricultural wages in Kenya. The partnership with Twiga, which connects farmers with a majority female network of vendors, advances OPIC’s 2X Women’s Initiative to mobilize $1 billion of investment in women and Connect Africa Initiative to invest $1 billion in enhanced connectivity in Africa.
- Pyrethrum Processing Facility: As a U.S.-backed Kenyan-American company, Kentegra is investing more than $4 million into a new production facility to manufacture an active ingredient from the chrysanthemum (pyrethrum) flowers used for organic insecticides and pesticides. Kentegra is helping revitalize the pyrethrum sector in Kenya, with a transformative impact on Kenyan farmers.