UK-Africa Investment Summit: Huge deals secured for Kenya

The inaugural UK-Africa Investment Summit was held in London yesterday, bringing together 20 African heads of state, ambassadors, high commissioners and industry leaders.

Kenyan President Uhuru Kenyatta had a busy day, reportedly securing deals involving investment opportunities in housing, finance and renewables worth US$1.6 billion.

A large focus was placed on affordable housing, with a new deal that will see a Sh21.9 billion investment by British drinks firm Diageo to build environmentally sustainable breweries in Kenya and the wider EAC region.

The British Embassy in Nairobi released a statement following the announcement, saying “Diageo has already invested Sh15.7 billion in East Africa Breweries Limited in Kisumu in 2017.

“This investment is supporting over 100,000 direct and indirect jobs (over half for women); including recruiting 15,000 new farmers employed in their Kenyan supply chain to 45,000.”

Members of the Royal Family accompanied Prime Minister Boris Johnson to the summit, aimed at strengthening historic trade ties after Britain leaves the European Union.

British High Commissioner Jane Marriot said “The United Kingdom has a huge amount to offer ambitious African firms and we have a strong reputation for quality, integrity and reliability.

“Today’s summit showcased to the world the best of Kenyan government, business and entrepreneurship and the partnerships today will help Kenya continue to flourish.”

President Kenyatta is expected to meet the Duke and Duchess of Cambridge at Buckingham Palace later on.

Photo credit: DfID | Flickr