Africa-Press – Kenya. President William Ruto has announced that Kenya and Mozambique have signed investment agreements worth $3 billion (Sh387 billion), spanning ten counties and several key sector
The deals, formalised during the Fourth International Investment Conference at State House, Nairobi, are expected to boost foreign direct investment, create jobs, and strengthen the economic partnership between the two nations.
Speaking at the media briefing at State House, Nairobi where he hosted Mozambique President Daniel Francisco Chapo on Thursday, Ruto noted that the investments will benefit counties including Mombasa, Bungoma, Uasin Gishu, Kericho, Nakuru, Nairobi, Kiambu, and Tana River, adding that international participation “greatly enhanced investor confidence and contributed to increased foreign direct investment into our country”.
Investors from nearly ten countries, including India, Australia, the United States (US), the United Kingdom (UK), and China, alongside Kenyan businesses, took part in the agreements.
According to Ruto, the deals will “drive meaningful investment and economic growth in the Republic of Kenya”.
Highlighting Mozambique’s importance, Ruto added, “Your Excellency, your visit reflects our shared commitment to further deepen the strong bilateral relations between our two countries and affirms Mozambique’s central role as a strategic partner for Kenya in Southern Africa.”
Ruto also called for regional solidarity, noting that Africa faces challenges from protectionism, the Russia-Ukraine conflict, lingering Covid-19 effects, and instability in the Middle East.
“Our founding fathers envisioned a continent anchored on Pan-African solidarity and collective advancement. Today, that vision is more critical than ever… This is essential to better shield our economies and societies from external shocks,” he said.
The bilateral talks focused on reviewing cooperation progress and addressing challenges.
“The bilateral talks we have just concluded focused on advancing this shared vision. We reaffirmed the strong and cordial ties between our two countries, further reinforced by the successful convening of the Third Session of the Joint Permanent Commission for Cooperation, held ahead of this visit,” Ruto said.
As a result, three key Memoranda of Understanding (MoU) were signed, including diplomatic training, research, and capacity building, covering training, exchange programmes, and research collaboration.
Also, an MoU on penitentiary and prison services, aimed at improving correctional standards, focusing on youth development and sports collaboration.
“These agreements mark an important milestone in our bilateral relations and provide a strong framework for deepening cooperation between our two nations,” Ruto said, stressing that both sides are committed to the timely implementation for mutual benefit.
