President Kenyatta has since made his 3-day UK trip, which, as expected, stood the chance to earn Kenya a number of high-value deals.
In the UK, the President co-hosted the Global Education Summit alongside the Kingdom’s PM Boris Johnson.
The details of the investment deal have since been made public, and other than supporting SMEs, they also reveal that a notable share of the KES 20 billion gift will be used to drive many tech-based projects.
Tech-based investments
KES 4.2 billion will be invested in manufacturing.
KES 2.7 billion will be used to support a digital customs system to boost international trade. The system will entail the completion of the Integrated Customs Management Systems (iCMS) to speed up the movement of goods in and outside the country.
Furthermore, the details of the basket of goodies from the UK reveal that KES 675 million has been provided by UK firm ARC Ride to expand their Kenya fleet of electric cars.
Renewable energy programs have not been left out as KES 495 million from UK-backed InfraCo Africa will be used to expand off-grid solar power in the Western parts of the country.
An additional KES 555 million has also been set aside to support green transition including clean cooling and renewable energy.
Green manufacturing will also receive a KES 75 million boost.
Lastly, InfraCo Africa is also investing KES 135 million in an electric taxi service named Nopea Ride.
Nopea Ride is the first electric taxi company on the African continent and is growing its fleet in Nairobi.
This will help increase the earnings of drivers whose revenues have been cut by bus fare hikes.
