UK, Kenya deepen investment ties

UK, Kenya deepen investment tiesFrom MARIA MACHARIA in Nairobi, Kenya
NAIROBI, (CAJ News) – UNITED Kingdom’s trade envoy to East Africa, Lord  Clive Hollick, will this week visit Kenya to discuss the key elements of trade between his country and Kenya.

The tour aims to explore the growing spectrum of trade and investment opportunities for the UK in Kenya’s renewable energy sector.

The UK Foreign and Commonwealth Office said Hollick’s delegation will  explore potential solar hybridizing sites that are marked for development by Tropical Power, a British clean energy development company.

He will also visit Tullow Oil’s Lokichar Basin drilling sites and meet with various supply chain companies that are stimulating social development in the sites.

Hollick will meet with the Governor for Turkana, Josphat Nanok, and other County government officials to discuss potential investment opportunities.

He will also officially open the new Turkana offices of the Kenya Market Trust (KMT).

The UK, through the Department for International Development (DFID), has funded KMT with £24 million (Ksh 3.5bn) from 2012-15 to improve market access for the poor.

In Turkana, KMT is working to ensure increased income to pastoralists from the sale of livestock and livestock products.

Lord Hollick will also hold meetings with various government ministries and parastatals: the Office of the President, Energy and Petroleum, National Treasury, Geothermal Development Company (GDC) and Kenya Electricity Generating Company (KenGen).

Central to his discussions with National government will be UK Export Finance (UKEF) which has set aside up to £500 million to support trade with Kenya.

Hollick’s visit comes at a time when Kenya has set ambitious targets to boost its energy mix and increase output to 500MW, as part of the Energy Pillar in Vision 2030, to help guarantee the reliable, affordable power necessary to underpin sustainable development.

The UK is a leading export market for Kenya, and is at the forefront of key industries including horticulture, hydrocarbon development, finance and telecoms. Tourism and agriculture are Kenya’s top two earning sectors, making the UK a major contributor to the Kenyan economy.

High Commissioner to Kenya, Nic Hailey, and a delegation from the High Commission will accompany Hollick on the visit scheduled for Wednesday and Thursday.

CAJ News

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Posted by on Feb 16 2016. Filed under Africa & World, Featured, Finance, Investing, National, News, Regional. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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