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British Prime Minister Boris Johnson on Monday pitched £1,3 billion business opportunities to a Kenyan delegation led by President Uhuru Kenyatta at the inaugural UK-Africa Investment Summit held in London as the United Kingdom charts its post-Brexit economic ties.
A statement by the British High Commission in Nairobi said the deals cutting across housing, finance, renewables, and entrepreneurship “will create a new lasting partnership that will deliver more investment, jobs and growth to Kenya”.
The summit came at a time British corporate giants in Kenya such as Barclays, British luxury car-maker Land Rover, Standard Chartered Bank , British American Tobacco and Unilever are struggling to fend off a stiff challenge from aggressive rivals.
Kenya’s preference for countries in the Far East for business and development financing under retired President Mwai Kibaki’s reign and later Mr Kenyatta has dislodged European power-houses including the UK from long-held positions as the leading sources of foreign direct investment (FDI). — Business Daily.
Online Reporter