The United Kingdom is set to invest KSh 17.7 billion in Kenya’s innovation sector, targeting startups, SMEs, and the broader digital economy.
The funding forms part of the Strategic Partnership 2025–2030 agreement signed by President William Ruto and UK Prime Minister Keir Starmer.
The plan aims to support more than 500 startups, help 5,000 digitally focused SMEs, and generate 30,000 new digital jobs.
As reported by Kenya Wall Street, the partnership goes beyond just funding.
Kenya and the UK have committed to working together on artificial intelligence and other advanced technologies to drive inclusive and sustainable digital growth.
The UK also pledged to mobilise up to £1.5 billion (KSh 266.1 billion) in new investments across various sectors in Kenya and to help raise $250 million (KSh 32.3 billion) through Kenya’s capital markets by 2030 to support key areas of development.
During his visit to the UK, President Ruto highlighted Nairobi’s rising profile as a financial hub in Africa.
This was further boosted by Lloyd’s of London’s decision to set up a regional underwriting centre under the Nairobi International Financial Centre (NIFC), which is expected to manage up to KSh 75.5 billion.
Nairobi’s position is also being strengthened by the growing presence of major global players.
Leading technology companies like Microsoft, AWS, and Apple have established their regional bases in Kenya, alongside global business process outsourcing firms and financial services institutions such as BUPA Global, Africa Speciality Risk, and the European Bank for Reconstruction and Development (EBRD).
On climate issues, Kenya and the UK have agreed to work together to unlock at least £200 million (KSh 35.5 billion) in green financing from public, private, and blended sources, supporting Kenya’s efforts on clean energy and climate resilience.
The two countries have also agreed to add six more weekly Kenya Airways flights between Nairobi and London to address cargo and passenger challenges.
President Ruto and Prime Minister Starmer further committed to deepening security cooperation through intelligence sharing, joint operations, and capacity building between their defence agencies.
They also welcomed the United States’ involvement in peace efforts in the Democratic Republic of Congo and stressed the need for a united regional response through the East African Community and the Southern African Development Community.
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Image Credit: The Kenya Times
