€102M Investment Deal between Kenya and EU

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€102M Investment Deal between Kenya and EU
€102M Investment Deal between Kenya and EU

Africa-Press – Kenya. Kenya has announced a fruitful digital partnership with the European Union, involving new investments worth 102 million euros, approximately 15.3 billion Kenyan shillings, aimed at accelerating digital transformation, expanding connectivity, and creating new opportunities for youth and businesses.

The Kenyan government expressed its appreciation for the EU’s support of 37 million euros to extend the Blue Raman submarine cable to Africa, which connects Djibouti, Somalia, Kenya, and Tanzania. This will enhance connectivity, reduce bandwidth costs, and bolster Kenya’s position as a leading regional digital hub.

Kenyan officials stated that they held productive discussions with the Deputy Executive Vice President of the European Commission, Hina Verkoenen, regarding deepening cooperation between Kenya and the EU in the areas of trade, innovation, and the digital economy.

A senior official added that they reviewed the implementation of the Economic Partnership Agreement between the EU and Kenya, under which Kenya’s exports to the EU have increased by more than 20% since its inception, contributing to job creation and expanding opportunities for farmers and manufacturers.

They continued: “We also welcomed the progress made under the digital partnership between the EU and Kenya, particularly concerning digital dialogue and data adequacy processes, which will enhance digital trade, attract investments, and elevate Kenya’s status as a leading digital hub and a global destination for business process outsourcing (BPO), ranking eleventh.”

Kenya’s partnership with the EU continues to unleash investments, drive innovation, and promote shared prosperity.

On another note, young farmers in Kenya are turning to a combination of traditional farming and mobile applications to build their livelihoods in the absence of formal jobs.

In Kericho County, Kenya, a typical day for 33-year-old farmer Chepkorir Rotich begins before sunrise. By that time, Rotich has already milked her cows, sold the milk, fed her chickens, and returned to harvest vegetables to meet pre-placed orders. Her work begins this way every day, and she performs it with passion.

When the mother of two left college over a decade ago, she was eager and ready to join the formal job sector and secure a full-time position.

She says, “I thought I would work as a business manager, but after a long job search, I accepted temporary job offers from three different companies. The highest salary among them was about 200 dollars a month. This amount was not enough while I was living in Nairobi.”

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