This archive report was first published on 26 October 2019.
Published on October 26, 2019, President Uhuru Kenyatta met with Russian President Vladimir Putin on the sidelines of the first Russia-Africa Summit in Sochi to discuss investment opportunities in Kenya's Big Four Agenda.
Kenya's President Uhuru Kenyatta is seeking to attract Russian investors to support the country's Big Four Agenda, focusing on manufacturing, affordable housing, and universal healthcare. The President identified construction of affordable houses, tourist charter flight services, and space technology as key areas of interest for Russian investors.
President Kenyatta also expressed interest in tapping Russia's expertise in renewable energy and natural gas resources, aiming to bridge the trade imbalance between Nairobi and Moscow.
During the meeting, the two leaders agreed to establish a Russia-Kenya business council to oversee the implementation of joint trade and investment programs. President Putin encouraged more Russian private sector actors to invest in Kenya, citing the country's growing economy and the presence of several Russian companies in the Kenyan market.
Kenya National Chamber of Commerce and Industry signed a working relationship with Roscongress Foundation and an memorandum of understanding with the All-Russia public organisation 'Business Russia.'
President of the Kenya National Chamber of Commerce and Industry, Richard Ngatia, said the agreements will facilitate trade between the two countries.
“The working documents aim at establishing necessary conditions for the active and effective participation of joint ventures with organisations, companies and entrepreneurs of both countries in exhibitions, fairs and other advertising and informative events,” said Ngatia.
