AfriPulse
President William Ruto announced a new tranche of investment pledges for Kenya after securing more than Ksh 20 billion in commitments during his ongoing Europe tour.
In a statement released on Monday, June 8, Ruto said he had accepted Ksh 15.3 billion in new funding under the European Union (EU)–Kenya digital partnership. He also said the EU will provide a further Ksh 5.6 billion in support for the Africa extension of the Blue Raman submarine cable project.
Ruto said the investments will speed up Kenya’s digital transformation, broaden connectivity, and create opportunities for businesses and young people.
“We welcome €102 million (approximately Ksh 15.3 billion) in new investments under the EU-Kenya Digital Partnership to accelerate digital transformation, expand connectivity and create opportunities for our youth and businesses,” he stated.
“We also welcome €37 million (Ksh5.5 billion) in EU support for the Blue Raman submarine cable’s Africa extension connecting Djibouti, Somalia, Kenya, and Tanzania, which will strengthen connectivity, lower bandwidth costs, and reinforce Kenya’s position as a leading regional digital hub,” he added.
The head of state said the investment will boost digital connectivity across the country and create new job opportunities, particularly for young people, who have been hit hardest by unemployment.
On the Blue Raman submarine cable extension linking Djibouti, Somalia, Kenya, and Tanzania, the president said the project is expected to strengthen regional connectivity, reduce bandwidth costs, and reinforce Kenya’s role as a leading digital hub in Africa.
Ruto also met with EU officials to review progress on implementing the EU–Kenya Economic Partnership Agreement (EPA). He said the agreement has helped drive a more than 20 percent increase in Kenyan exports to the European Union since it took effect.
“We reviewed the implementation of the EU-Kenya Economic Partnership Agreement (EPA), under which Kenya’s exports to the European Union have grown by more than 20 per cent since its entry into force, creating jobs and expanding opportunities for our farmers and manufacturers,” the president added.
Ruto said the export growth has opened up fresh opportunities for Kenyan farmers and manufacturers while supporting job creation in key sectors of the economy.
The talks also covered efforts to advance the EU–Kenya Digital Partnership, including progress on the Digital Dialogue and the Data Adequacy process. He said these steps are designed to strengthen digital trade, attract foreign investment, and improve Kenya’s competitiveness in the global digital economy.
Ruto is currently in Europe, where he began a week-long trip across three countries. During the visit, he is expected to go to Belgium and Norway and undertake a state visit to Finland.
Source: NairobiWire.com | Read the Full Story…
