This archive report was first published on 18 October 2019.
On October 18, 2019, the Lord Mayor of London, Peter Estlin, visited Nairobi to discuss ways to increase investment from London in Kenya's Big Four agenda, business development, and local job creation.
Estlin, who represents London's financial district, the City of London, or 'the Square Mile,' championing the UK's financial and professional services sector at home and overseas, noted that the UK is the leading exporter of financial services across the world, and London is the world's gateway to global capital and advice.
During his visit, Estlin met with promising Kenyan fintech start-ups, who explained how their innovative products could benefit companies, investors, and consumers alike. He also announced £10 million (Sh1.3 billion) of new UKAid funding to support the Catalyst Fund, which provides business development and investor readiness support to these start-ups.
Estlin expressed his desire to see investors from London supporting the emergence of the next M-Pesa, empowering individuals and businesses to borrow, save, and exchange money. He also highlighted the importance of investment in innovations that respond to climate change and build climate resilience, an area where Kenya has a real opportunity for growth.
The Africa Investment Summit, scheduled to take place in London next year, will provide the Kenyan Government and Kenyan companies with the opportunity to build on previous successes, showcasing what Kenya has to offer to global investors.
Estlin left Nairobi confident that there is more that can be done together to encourage greater investment in Kenya, which supports job creation and mutual prosperity.
