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President strikes multi-billion investment deals with US firms

Published on September 29, 2015

Kenya has secured commitments amounting to billions of shillings from American companies to increase power production and finance infrastructure projects.

Some of these projects have already been initiated.

President Uhuru Kenyatta said the commitments were secured during a morning meeting with the American companies under the umbrella Business Council for International Understanding (BCIU).

He said Africa was the continent in focus for investors and Kenya must use its potential in clean energy and infrastructure to grow its economy.

One of the US companies committed to invest an estimated Sh400 billion ($4 billion) in Kenya for power generation. “One company in particular doubled its commitment to invest in solar power in Kenya over a period of time, developing up to about 2,000 megawatts of power at a cost of approximately $4 billion. Read more. Source | Daily Nation