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Kenya, US Ink Multibillion-dollar Investment agreements

Kenya and the United States of America have concluded numerous agreements worth several billion dollars.  The two countries aim to strengthen their diplomatic relationship by taking advantage of emerging opportunities, harnessing the power of the private sector to implement creative solutions to the challenges affecting the continent. With his visit to the United States from 22-24 May 2024, Kenyan President William Ruto has created a partnership that will serve the people of the United States, Kenya and beyond. U.S. efforts to promote development in Kenya and on the African continent include the $4.4 billion, four-year IMF program in Kenya.

In strengthening democracy and sustainable development in Africa,  the Kenyan Président William Ruto during a state visit in the United State of America from 22 to 24 May 2024 reached multiple investment agreements worth billions of dollars with Joe Biden the President of the United State according to official data. These agreements aim to enhance education, Foster cooperation on climate action and green industrialization, encourage trade and investment and promote people to people ties. The U.S, through its investment arm and the International Development Finance Corporation (DFC), has invested more than USD 200 million in multiple companies, with direct loans and equity investments.

“At a time when democracy is being retreating worldwide, the accelerating drift towards regimes indifferent to democratic values is a deep concern to us.and I believe it is time the US working with Kenya deploys its capabilities and rally like-minded democratic countries to set up the coast for democracy”.

William Ruto, President of the RepublicKenya

With 60 years of diplomatic relations, Kenya and the United States are committed to promoting peace and security, self determination and freedom on the continent. About 1000 troops have been deployed to the DRC, 5000 troops in Somali and 1000 paramilitary officers are to be deployed to Haiti backed by a USD 300 million support from the U.S to curb gang violence and hunger.After Egypt, Morocco and Tunisia, Kenya is the first sub-Saharan African country to become a non- NATO ally, the North Atlantic Treaty Organisation, which is dedicated to military and political cooperation between some thirty states around the world.

“I express optimism that Kenya and the US will innovatively design appropriate defense and security frameworks to help Kenya as the state and the region in general to deal with the peace and security challenges that are undermining human well-being, slowing down development and also having a negative impact on democracy. We affirm our mutual commitment in the stabilization of Haiti through the multinational security support mission”.

William Ruto, President of the RepublicKenya

President William Ruto also called on President Biden to spearhead the renewal of the Africa Growth and Opportunity Act (AGOA) which will guarantee the creation of jobs and wealth in Africa. Kenya and the United States also aim at  enhancing technical and policy cooperation to advance bilateral cybersecurity relationships and promote innovation through its partnership in harnessing artificial intelligence. At the 2024 AmCham East Africa Business Summit, the U.S Trade and Development Agency announced USD1.2 million to address Kenya’s internet affordability gap.

“I’m proud to announce that I’m working with the Congress to make Kenya the first country in Africa to receive funding through cheap and science acts which will serve us well. This funding will link their supply chains to the United States and to our partners and for innovation it extends from the silicon Valley in California to silicon savannah in Kenya which by the way is already a 1 billion dollars tech”

Joe Biden, President of the RepublicUnited States

Coca-Cola and Microsoft are also among the American companies that have also pledged to invest in the East African country. Focusing on economic and debt issues, President Biden and President Ruto released a wide-ranging strategy document entitled “The Nairobi-Washington Vision” outlining their commitment to work together to accelerate debt relief for Kenya and other African nations.


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