This archive report was first published on 5 September 2019.
Thursday, September 5, 2019, Nairobi was lobbying UK firms to continue investing in Kenya, despite the ongoing Brexit chaos in London.
Kenya's High Commissioner to the United Kingdom, Manoah Esipisu, said the country was banking on recent UK assurances to ask firms to raise their investments in Kenya.
Esipisu received assurances from Conor Burns, UK Minister of State for International Trade, that Kenya will continue to access the duty-free, quota-free markets in the UK, as part of the EU regime.
He added that Nairobi and London will sign a transition agreement to ensure that Kenyan flower sellers, for instance, continue to access the UK markets without subject to duty.
The new focus will also be on harnessing more UK investments into Kenya, with the UK Export Finance and Commonwealth Development Corporation portfolio of £4.5 billion for investments, which could help Kenya's Big Four Agenda.
Esipisu said, "There are significant opportunities for continued investment by British companies, both as project funding and Foreign Direct Investment."
He added, "We can look to bed down some of these opportunities and get them across the finishing line in January at the UK-Africa summit."
The Africa Investment Summit in January 2020 will provide further impetus to help deliver a dynamic business environment that welcomes international trade and investment.
Some 300 UK companies operate in Kenya, making London the biggest foreign investor in Kenya, with trade value reaching Sh140 billion.
