Kenya, UK sign investment deal

Kenya and UK partner on investment. [UK High Commission]

Kenya has signed a partnership agreement with the UK government to introduce new investment products and increase private sector capital for development.

The partnership was launched in Nairobi on Tuesday, September 24, by the Nairobi Securities Exchange (NSE) and the UK government's MOBILIST program.

MOBILIST, an initiative under the UK's investment partnership framework, will provide investment and technical assistance to businesses aligned with the United Nations Sustainable Development Goals (SDGs).

The program aims to help these businesses overcome obstacles to listing on stock exchanges.

The program is open to eligible Kenyan businesses and has similar partnerships with emerging market exchanges across Africa.

The launch was led by the UK's Trade Commissioner for Africa, John Humphrey, who is on a three-day visit to Kenya. He highlighted the importance of investment solutions in the country, noting that the initiative will offer Kenyan businesses a platform to raise the capital needed for expansion.

"Long-term investments that bring lasting change to the people of both our countries are the cornerstone of the UK-Kenya economic relationship. We achieve more when we work together," said Humphrey.

During the visit, Humphrey will focus on advancing long-term investment projects under the UK-Kenya Strategic Partnership, a five-year agreement.

NSE CEO Frank Mwiti expressed enthusiasm for the partnership, emphasizing its role in connecting investment with economic growth.

"The strategic partnership between the NSE and MOBILIST aligns with our focus on mobilizing capital for sectors with significant needs, especially in sustainable development," Mwiti said.