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Investments in Kenya by the United States have increased in the past few months, entries in the American business deal book in Kenya shows.
The increased investment shows US's renewed efforts to reclaim its financial and investment portfolio and influence in Kenya in the wake of intense competition from China.
Last month, President Kenyatta witnessed the signing of deals worth Sh10 billion ($100 million) at a bilateral conference organized by the US Chamber of Commerce in Nairobi.
The event was attended by a delegation of 60 American investors led by the US Under-Secretary for Commerce Gilbert Kaplan.
Among deals entered during the summit include an agreement between Kenya and an US company, Medtronic, to set up a dialysis centre for $20 million.
Another deal was struck between Rendeavour and Unity Homes for the construction of 1,200 cheap homes in Tatu City, the US-backed mixed-income development in Kiambu worth Sh4.5 billion ($45 million).
Last week, Ray Washburne, President of the Overseas Private Investment Corporation (Opic) — one of the US Government agency that supports private companies to invest in developing economies, led a delegation to Nairobi to explore more investment opportunities.
“American businesses are eager to invest in Kenya and Opic is eager to support them” Mr Washburne said in a newspaper opinion on Business Daily ahead of his visit to Nairobi last week.
This came a few weeks after Opic unveiled its Connect Africa initiative on July 2nd, which targets to invest over Sh100 billion ($1 billion) in transport, communications, and value chains in the continent over the next three years.
Kenya looks to exploit new opportunities under the Connect Africa initiative to bolster its growth.
“Opic is seeking to support the Nairobi-Mombasa Expressway Project in co-ordination with American engineering firm Bechtel. The project is critical to enhancing the strategic transportation infrastructure along the Nairobi-Mombasa corridor — a major corridor of national and regional commerce and integration” Mr Washburne said in his Op-Ed last week.
Opic is already doing several projects in Kenya including One Acre Fund where it pumped Sh1 billion in 2015.
Comments
Pole @jamana if you were one of those who celebrated the welcoming of Chinene colonizers by muuaji Moi/jambazi Kibaki.What will you say now that these racists(Chinese) are about to take the control of a Kenyan port(mostly Lamu) to pay their untraceable,stolen loan money?These foreigners can invest but NO LOANS should ever be advanced to Kenya.Only a REVOLUTION will save Kenya from these elite thugs who must all and their families face THE FIRING SQUAD.
Ni lazima tuwe macho ili tusitumiwe na Wachina au Wamarekani kama "malaya."
Exctaly, it might be a case of moving from one abusive lover to the next. I still do not know why Africans can't borrow money from each other. There are companies within Africa which are capable of doing some of this stuff. Why don't they get SOME deals
No country can achieve development without external investments. Some of us can say “Bure Kabisa” but remember the new money will bring new employment to the Kenyans which is critically needed. United States is not wholly owned by Americans. Believe it or not but most of the big buildings etc. in America are foreign investments. So, Kenya is doing the right thing.
you sound like one of those kenyans being caned by SGR chines for lacking intellect and manners.
FORMER PREZZO KIBAKI, AS AN ECONOMIST OF REPUTE, DECIDED TO INVITE CHINA WHEN DENIED FUNDS FROM THE WEST, BECAUSE HE OBJECTED SENDING KENYAN FORCES TO IRAQ,WE ALSO HAVE WHITE ELEPHANT PROJECTS DONE BY THE WEST AND THE 15 % SCANDALS, WHILE CHINESE ARE NOT ANGELS, BUT THE COMPETITION BETWEEN THE WEST[USA] AND CHINA WILL GIVE KENYA THE BEST ECONOMIC DEALS THAN EVER BEFORE----ONLY IF WE CLEAN-UP OUR MANAGEMENT ASPECT.
Mr sokwe, achana na hawa majamaa hawajui walisemalo na tena wakubuke kelele ya chura haizuilii ng'ombe kukunyua maji. KAZI LAZIMA IEDELEE!!
@Sokwe please please educate them coz they always attack me when I do the same good info u have said??Usa/Australia/UK yaani the west is technically the poorest countries if u really think hard.Their citizens works like donkeys paying high taxes paying bills zenye zitaisha when I go 6fit mortgages upto 50 yrs if u refinance n our black Africans have moved to this countries making them their total homes for life not knowing they will b slaves mpaka wakufe n their kids kids yet u think ur in heavens???Guys study save cash n return to the freedom I mean real freedom.Hii unjinga of working working until 70 then going back to work is bad life but one have to make a choice for themselves.
All of these deals that the wonder boy is witnessing are private ventures. They had nothing to do with his government. Bure kabisa