Last week, H.E. President William Ruto led a delegation of public and private sector leaders on a State Visit to the U.S. in a bid to strengthen the 60-year partnership between the United States and Kenya. The private sector was led by the Kenya Private Sector Alliance (KEPSA). The just-concluded visit was a testament to the shared commitment between the two countries to protect democracy, advance human rights, combat corruption, enhance good governance, health partnerships, climate solutions, trade and investment, digital cooperation, and peace and security. The forum underscored the importance of sustained private sector engagement in advancing the economic relationship between the U.S. and Kenya.

The Presidential-Led Business Forum was marked by several significant achievements, including substantial financial support from the United States for various initiatives in Kenya and the signing of several pivotal agreements between the private sector players in Kenya and the U.S. Some of the key partnerships witnessed included DFC-approved $180 million loan to Acorn, a real estate developer that constructs and operates affordable student housing in Kenya. The DFC investment is expected to catalyze an additional $360 million in local Kenyan investment, including from Standard Bank (a KEPSA Member in Kenya), to develop 35 new projects offering an additional 48,000 student beds in one of Africa's largest affordable green housing portfolios. With early-stage support from USAID and Prosper Africa and financing from DFC, this transaction is designed to address a critical need to support the private sector as it pursues projects emphasizing development impact that delivers for the people of Kenya. DFC also announced a $51 million loan to Kenyan company M-KOPA to support financing up to $210 million of smartphone receivables and cash loans, increasing the affordability of devices to low-income borrowers.

Equity Holdings, a member of KEPSA in Kenya, has entered into a memorandum of understanding (MOU) with Hewlett-Packard (HP) to supply technology, assistance, and technical support for Equity Group's strategy as part of the 'Africa Recovery and Resilience Plan' (ARRP) initiative. This initiative serves as a transformation framework for Africa, incorporating advanced, future-proofed technologies for Equity Group's operations and its clients and partners. The agreement will contribute to the advancement of HP Enterprise technologies, supporting the expansion of its presence on the African continent to facilitate Africa's industrialization and modernization for global involvement.

Furthermore, in collaboration with G42 and other stakeholders, Microsoft (a Member of KEPSA in Kenya) announced a $1 billion investment in Kenya. This includes a state-of-the-art green data center in Olkaria, which will be run entirely on renewable geothermal energy and other digital initiatives with the Ministry of Information, Communications, and the Digital Economy. The partnership will also offer digital and business training programs for young entrepreneurs, building on existing collaborations with KEPSA and other partners like Stanbic Kenya Foundation, MPESA Foundation, UNDP Kenya, Young African Leaders Initiative, Jomo Kenyatta University of Agriculture and Technology, and the United States International University-Africa.

KEPSA Members witnessed the launch of the Kenya Urban Mobility and Growth Threshold Program by the Kenyan government and the Millennium Challenge Corporation (MCC) at the  Shared Climate Solutions event. The program, launched by H.E. President Dr. William Ruto and MCC CEO Alice Albright in a ceremony at John Hopkins, Bloomberg Theater, aims to benefit the 4.3 million Nairobi residents by tackling the economic growth challenges related to urban land use and transport planning. The launch signified that the program is now legally binding, and money can begin to flow from MCC to the program’s accountable entity - Kenya Millennium Development Fund (KMDF), whose board we have KEPSA representation.

Google announced an investment in digital connectivity for Africa Connect, creating the first intercontinental fiber optic route between Kenya and the Asia Pacific region in the southern hemisphere. The terrestrial portion of Africa Connect has regional breakout points that enable trusted connectivity from Kenya to several African countries and Google’s Africa Cloud Region.

Marathon Digital Holdings, a leading company in leveraging digital asset computing to support the energy transformation, entered into a memorandum of understanding (MOU) with the Ministry of Energy and Petroleum (MOEP) to provide more than $80 million in investments and technical knowledge for the development of eco-friendly data centers. These efforts aim to enhance the efficiency of renewable energy infrastructure in Kenya. This collaboration is expected to have positive economic impacts on Kenya and contribute to the local energy sector ecosystem's revenue generation.

Coca-Cola System, consisting of the Coca-Cola Company (Coca-Cola Kenya is a Member of KEPSA) and its authorized bottler Coca-Cola Beverages Africa, announced its intention to grow its investment in Kenya by up to $175 million (KSh23 billion) over the next five years, should the business achieve its anticipated growth targets in the country. Vivo, a member of KEPSA in Kenya, launched its New Fashion Group Retail Store in Atlanta, Georgia, demonstrating the impact of visionary enterprise and the role of women in leadership, business, and entrepreneurship.

The United States and Kenya have collaborated for decades in the health sector, resulting in significant improvements in global health. This includes the formal proclamation between the U.S. Center for Disease Control and Prevention (CDC) and the Government of Kenya during the State Visit to share information and develop the Kenyan National Public Health Institute. Kenya and the United States also plan to develop a customized Public Health Emergency Management training program to enhance health security across all 47 counties in Kenya.

Furthermore, the U.S. International Development Finance Corporation (DFC) is investing in Kenya’s private sector by providing a $10 million direct loan to Hewa Tele, a company that supplies medical oxygen to healthcare facilities in Africa, and investing two rounds of equity totaling $4 million in Kasha Global, an e-commerce company serving low-income women in Kenya and Rwanda. Additionally, Siemens Healthcare India and RVO Healthcare Care Kenya (Redhill Cancer Center) entered a partnership to establish a center of excellence for cancer care in Kenya, intending to open in 2025 to serve patients in Kenya and across East Africa.

The forum highlighted the crucial role of the private sector in solidifying these ties and driving future economic growth. These partnerships and other mainstream and sideline discussions allowed Kenya’s private sector to showcase Kenya as a ready investment destination, emphasizing the mutual benefits of fostering a strong economic partnership. Other key outcomes included commitments to enhance cooperation in security, infrastructure development, and education.

For instance, the State Visit also strengthened partnerships through groundbreaking education and exchange programs, including $3.3 million for a U.S. Department of State program allowing sixty Kenyan undergraduate students to study for a semester in the United States, focusing on STEM under the Kennedy-Mboya Partnership. This is in addition to $500,000 for Partnership 2024, supporting the development of Kenyan students, scientists, researchers, and engineers.

In a significant show of support, the U.S. allocated nearly $40 million for democracy, human rights, and governance programs in Kenya. This substantial funding includes initiatives to bolster democratic elections, enhance women’s political participation, combat Gender-Based Violence, and promote digital democracy. This robust support further underscores Kenya’s pivotal role in the Global Partnership for Action on Gender-Based Online Harassment and Abuse.

The U.S. also announced $700,000 in new assistance to support Kenya’s efforts towards an independent civil society. This is in addition to the $2.7 million the United States is providing to improve civil society engagement in and oversight of governance processes.  The U.S. Agency for International Development (USAID) is also providing an additional $1.3 million youth empowerment program to strengthen political engagement at the subnational level and $600,000 to advance disability inclusion.

The Administration plans to allocate $500,000 for a new Fiscal Integrity Program to improve county budget processes and citizen engagement and $500,000 to broaden the reach and effectiveness of anti-corruption advocacy. An additional $250,000 through the Global Accountability Program will go towards fighting corruption, and $300,000 will be allocated to support Kenya’s proposed Whistle-blower Protection law. Additionally, USAID has provided $2.7 million to support the improved enforcement of policies and laws dealing with fraud, waste, and abuse in delivering public services to Kenyan citizens.

Other funding under democracy, governance, and human rights efforts include a $7 million partnership to advance and strengthen the modernization and professionalization of Kenya’s National Police Service, focusing on staff and training development. A new $2.2 million initiative to reduce prison overcrowding and improve detention conditions and $4.9 million in new funding for Kenya and other East African countries to improve cooperation and coordination in combating criminal networks and holding criminals accountable.

To read about all the funding provided by the United States to Kenya, open this link.