Paul Arithi 
President William Ruto and UK Prime Minister Keir Starmer have signed the refreshed five-year Kenya-UK Strategic Partnership agreement aimed at unlocking over sh427 billion in investments.
According to Hussein Mohamed, State House Spokesperson on Tuesday, the two parties agreed to the deal following bilateral talks held in London.
The investment package focuses on four major areas: trade and investment, green growth and climate action, science and technology, and peace and security.
The two countries have also committed to enhancing cooperation on artificial intelligence and other new technologies in the interest of advancing inclusive and sustainable digital development, the statement noted.
In addition, the UK has committed sh266.1 billion worth of new investments in various sectors in Kenya, as well as sh32.3 billion in capital markets funding, all for the purpose of accelerating economic growth by 2030.
As part of the pact, the UK will also establish a regional underwriting hub in Nairobi under the Nairobi International Financial Centre (NIFC), which will deal with up to sh75.5 billion.
“These developments reflect enhanced investor confidence in Kenya’s economic and financial environment,” the statement said.
To address climate change, both countries have committed to mobilizing at least sh35.5 billion in green finance.
The funds will finance projects aimed at addressing environmental challenges and fostering sustainable development.
