NAIROBI,Kenya, Jan, 18 – The United Kingdom has stepped up its partnership with Kenya on infrastructure and investment, with news that a UK firm will design the new Nairobi Central Railway Station, while the UK’s development finance arm is planning a Sh 5.66 billion investment into Equity Bank.
At an event in Nairobi to relaunch British International Investment (BII), currently known as CDC Group, the UK’s Minister for Africa made a raft of announcements on the second day of her official visit. The investment in Equity Bank will help the bank serve more Kenyans, especially small businesses, and to boost business prosperity and help drive Kenya’s economic growth.
Meanwhile, UK firm Atkins Global has been appointed to design Nairobi’s new Central Train Station and associated public realm, which will provide the centrepiece of Nairobi Railway City.
It is a flagship project to regenerate Nairobi’s Central Business District initiated by President Kenyatta, who personally requested UK support when he met Prime Minister Boris Johnson in January 2020.
At a launch event in Nairobi as part of the Build Back Better World initiative, the Minister was joined by PS Housing, Charles Hinga, and a host of business leaders.
Speaking at the event, Minister for Africa, Vicky Ford MP, said, “Our economic partnership is delivering impressive results, and we have some ambitious, exciting, plans for the future. Plans that will deliver for Kenya, and for the UK, long into our shared future.
“We will continue to build on this economic partnership by focusing on infrastructure through the Build Back Better World initiative. Launched by G7 leaders in the UK last summer, this initiative will provide honest, responsible, and sustainable finance to meet infrastructure development needs around the world.
“This is how we will deliver world-class projects, characterised by high standards and outstanding expertise, without forcing huge new debts onto countries such as Kenya. “For the UK, our revitalised and rebranded development finance institution, British International Investment, will be key. The relaunch is also about new leadership, a new strategy, and a bigger role in delivering clean, green, infrastructure in developing countries,” she said
The Minister also announced that the UK has increased support to Green Manufacturing in Kenya by providing an additional Sh 61 million to help Kenya build a green manufacturing industry, increasing its support to the Ministry of Trade, Industrialisation & Enterprise Development and the wider Kenyan manufacturing sector in this area.
Green manufacturing was highlighted by President Kenyatta at COP26 as a key opportunity for Kenya to create new green jobs, and this funding (through the UK’s Manufacturing Africa programme) will provide expert analysis and advice on how government policy and the organised private sector can help build this industry and create new green jobs for Kenyans.
Kenya is already the third biggest portfolio for BII/CDC, with Sh 42 billion investments across 83 companies.
Those companies support 36,350 jobs, and pay Sh 2.6 billion in taxes. The Minister visited one of their flagship projects yesterday [17 January] – Malindi Solar, East Africa’s largest solar plant run by UK company Globeleq.
She also visited the Mombasa Port to see UK investment in Kenya’s trade infrastructure, supporting the UK-Kenya trade deal that came into effect in March 2021.
Tuesday afternoon she held talks with Foreign Affairs CS Omamo, opened the biannual technical review of the UK-Kenya Security Compact, and met women peace activists and election leaders ahead of elections in August.
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