On Wednesday, April 24, President William Ruto announced that investors from the United Arab Emirates (UAE) would inject Ksh67 billion into the Kenyan economy.
The President disclosed this during a meeting with UAE’s Minister for Investment, Mohamed Alsuwaidi, at State House Nairobi.
The scope of their investments was outlined, with the investors agreeing on a financing and investment framework.
Under this framework, Kenya and the UAE will explore programs and investment opportunities worth USD500 million. Regarding how the deal was secured, State House explained, “Our two governments have also agreed on a Memorandum of Understanding in mining that will help us explore investment and trade opportunities in the sector.”
This investment comes at a crucial time as Kenya considers allowing mining in National Parks and other protected areas. On March 25, Taita Taveta County governor Andrew Mwadime revealed that the plan was in advanced stages. Mwadime made the remarks during a meeting with Cabinet Secretaries Alfred Mutua (Tourism) and Salim Mvurya (Mining).
The leaders convened to discuss the procedures for allowing miners access to national parks and initiating the exploitation of minerals. CS Salim Mvurya later confirmed that plans were well underway to enable investors to exploit natural resources in national parks.
