This archive report was first published on 30 October 2019.
Kenya has made significant strides in its economic development, with the latest boost coming from Saudi Arabia. On a State visit to the country, President Uhuru Kenyatta has secured an 800M donation from the Saudi Fund for Development to develop Kisumu Port.
The announcement was made during a meeting between Treasury Cabinet Secretary Ukur Yattani and the Vice Chairman and Managing Director of SFD, Dr Khalid Bin Sulaiman Alkhudairy, on the sidelines of the Future Investment Initiative in Riyadh, Saudi Arabia.
Dr Alkhudairy expressed the Saudi Fund's interest in investing in Kenya's Affordable Housing projects, power, roads, and education, where it has already invested. He also praised Kenya's improvement in the ease of doing business index, stating that the Saudi Fund is keen on increasing its portfolio in the country.
“Kenya’s improvement in the ease of doing business ranking is a reflection of the level of attention to make the trading environment better. We are ready to engage more and when we move we do not move alone. We will bring along our partners especially the Arab financial institutions,” said Mr Alkhudairy.
The meeting was also attended by Kenya's Ambassador to Saudi Arabia, Mr Peter Ogego.
