{"id":9191,"date":"2023-12-28T14:39:16","date_gmt":"2023-12-28T14:39:16","guid":{"rendered":"https:\/\/gbc1.net\/?p=9191"},"modified":"2023-12-28T15:55:59","modified_gmt":"2023-12-28T15:55:59","slug":"usa-is-top-investor-in-kenya-with-748m-fdi-in-2023","status":"publish","type":"post","link":"https:\/\/gbc1.net\/index.php\/2023\/12\/28\/usa-is-top-investor-in-kenya-with-748m-fdi-in-2023\/","title":{"rendered":"USA is Top Investor in Kenya with $748M FDI in 2023"},"content":{"rendered":"\n

According to a report released by Ernst & Young (EY<\/a>) Kenya, the USA is the top investor country in Kenya. In 2023, the FDI from US into Kenya reached USD 748 million, covering 14 projects and creating 3,764 direct jobs.<\/p>\n\n\n\n

In total, Kenya benefitted from USD 2 billion in #FDI<\/a> during 2023. As a result, 7,819 jobs were generated across 63 projects. The investments were funneled into a variety of sectors, including manufacturing, warehousing, transport, warehousing, technology and #GreenEnergy<\/a>.<\/p>\n\n\n\n

The recent lifting of a nearly two-year ban on Independent Power Producers (#IPP<\/a>) has stimulated new interest in renewable energy projects. Other than the solar and hydro, Kenya is also blessed with geothermal energy.<\/p>\n\n\n\n

At #COP27<\/a> in Glasgow and #COP28<\/a> in Dubai, Kenya has been promoting it ambitious #EnergyTransition<\/a> program to convert its energy mix to 100% renewable. Thus, Germany recently agreed to support Kenya’s plan by contributing EUR 112 million for green energy and hydrogen (#GH2<\/a>) projects.<\/p>\n\n\n

\n
\"\"<\/figure><\/div>\n\n\n
\n

“Moderna literally gave the Kenyan economy a booster shot by investing $500M in a vaccine production facility in Nairobi.”<\/p>\n<\/blockquote>\n\n\n\n

It is worth highlighting that the largest US investment is in pharma. As a matter of fact, Moderna is investing nearly half a billion dollars to setup a state-of-the-art facility to produce #mRNA<\/a> vaccines in Nairobi. <\/p>\n\n\n\n

Officials from both sides highlighted that the positive outcome follows from the US-Kenya Strategic Trade and Investment Partnership (#STIP<\/a>) launched in July 2022 by USTR Katherine Tai and Kenyan Trade Cabinet Secretary Betty Maina. Then, the Presidents of both countries met during the US-Africa Leaders Summit in December 2022 (#UALS2<\/a>) to add impetus to the partnership.<\/p>\n","protected":false},"excerpt":{"rendered":"

According to a report released by Ernst & Young (EY) Kenya, the USA is the top investor country in Kenya.<\/p>\n","protected":false},"author":1,"featured_media":9201,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_mi_skip_tracking":false,"_EventAllDay":false,"_EventTimezone":"","_EventStartDate":"","_EventEndDate":"","_EventStartDateUTC":"","_EventEndDateUTC":"","_EventShowMap":false,"_EventShowMapLink":false,"_EventURL":"","_EventCost":"","_EventCostDescription":"","_EventCurrencySymbol":"","_EventCurrencyCode":"","_EventCurrencyPosition":"","_EventDateTimeSeparator":"","_EventTimeRangeSeparator":"","_EventOrganizerID":[],"_EventVenueID":0,"_OrganizerEmail":"","_OrganizerPhone":"","_OrganizerWebsite":"","_VenueAddress":"","_VenueCity":"","_VenueCountry":"","_VenueProvince":"","_VenueZip":"","_VenuePhone":"","_VenueURL":"","_VenueStateProvince":"","_VenueLat":"","_VenueLng":""},"categories":[249],"tags":[40,229,80,38,351,184,448,282,449,59],"yoast_head":"\nUSA is Top Investor in Kenya with 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