Kenya keen on eliminating obstacles to private sector growth

President Uhuru Kenyatta has assured the private sector that his administration is committed to the removal of obstacles that hinder business growth.  Uhuru was speaking during an African leaders’ panel session at the United Kingdom Africa Investment Summit. The Summit was attended by over 20 African heads of state.

Uhuru also spoke on the need for developing countries to come up with innovative ways that will accelerate sustainable economic growth in an environmentally friendly way. Uhuru spoke shortly after Kenya launched its first corporate green bond at the London Stock Exchange.

“Programmes such as geothermal and wind power production have attracted direct foreign investment to the point that today about 70 percent of all the power that we generate in Kenya comes from renewable energy sources,” Uhuru said.

The President also spoke on the need for developing countries to come up with innovative ways that will accelerate sustainable economic growth in an environmentally friendly way.

“With the growing climate crisis, we are all going to have to work differently especially for those of us in the developing countries in order to sustain our development in line with our respective countries’ vision to create the jobs that we need in an environmentally friendly way,” he said.

President Uhuru emphasized that Kenya is now working on a policy framework that will support the issuance of a Sovereign Green Bond in order to finance sustainable development projects.