US set to pour fresh investments in Kenya

Joe Biden and Kenyan President William Ruto are set to unveil investments in green energy and health manufacturing in Kenya, along with a strategy to alleviate its debt burden, according to Reuters citing a senior US administration official.

The US government will announce $250 million in fresh investments in Kenya through the US International Development Finance Corporation, with $180 million allocated for a significant affordable housing initiative, a US government official told Reuters. This contribution will bolster the financing agency’s portfolio in Kenya to over $1 billion.

Ruto’s arrival in the US on Wednesday marks the beginning of a three-day state visit, featuring bilateral discussions with Biden on Thursday, followed by an opulent state dinner.

This visit marks the sixth state reception under the Biden administration and the first for an African leader since 2008.

The political landscape in Africa has witnessed significant upheaval over the past year, marked by military coups, conflicts, and uncertain elections, enabling US rivals China and Russia to exert greater influence.

Strengthening ties with Kenya is seen by Biden as a means to foster stability in the continent and promote US interests.

During Thursday’s proceedings, Biden will officially designate Kenya as a major non-NATO ally, a first for a sub-Saharan African nation, as confirmed by a senior US official.

Both leaders are expected to unveil new US-backed initiatives in green energy and health manufacturing, alongside a comprehensive plan to address Kenya’s substantial debt, primarily owed to China.

Biden has disclosed intentions for an official visit to Africa in February following the US presidential election, under the assumption of his victory over Donald Trump. Although initially pledging a trip to Africa in 2023, this plan failed to materialise.