Kenyan President Uhuru Kenyatta has traveled the globe in the past few weeks, tendering financial deals for the east African nation. According to a release by the Kenyan Presidency, Kenyatta met with the UK Prime Minister, Theresa May and several UK investors as well as attended China’s Belt and Road Summit in May. While China has already invested considerably in Kenya’s infrastructure, the Belt and Road Initiative makes an additional $145 Billion USD available to its partner countries.
UK’s Equinox Energy Capital brings Kenya an investment of nearly $250 million for a 35 megawatt Home Bay hyacinth-to-energy plant, while the BBC is investing nearly $10 million in studio and equipment upgrades; asnd tea firm, Kericho Gold is slated to invest $25 million for a new plant in Mombasa. It is estimated that the UK deals will employ over 10,000 Kenyans. Kenyatta’s UK trip was certainly impressive, but investment from European quarters pale in comparison to China’s influence in the region.
China has invested in the first and last phase of Kenya’s Standard Gauge Railroad which can employ over 30,000 Kenyans. Kenya has currently closed billions of dollars in deals with the Chinese over infrastructure projects and received grants from the Chinese Exim bank powering development ahead.