US explains Biden’s growing interest in Kenya
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US Meg Whitman explains President Biden's growing interests towards Kenya even as trade talks between the two countries continue
US Meg Whitman explains President Biden’s growing interests towards Kenya even as trade talks between the two countries continue.
Ambassador Meg Whitman on Tuesday, April 25 explained the US’s rising interest in making Kenya its mainstay in the East African Community.
The business tycoon during a roadshow in New York claimed that President William Ruto’s administration had positioned itself well, improving its chances of becoming a centre for investments.
Whitman claims that US President Joe Biden chose Kenya above other nations because of its democracy, which has helped it develop into one of the most stable and free countries in East Africa.
With over 500 million consumers, Kenya was also seen as the entryway to the East African market.
The country’s airports, including Jomo Kenyatta International Airport (JKIA), according to the renowned diplomat, serve more than 40 international airlines.
The Port of Mombasa operations also appealed to US investors seeking to establish their presence in Kenya. She thus labelled Kenya as a leading regional logistics hub.
According to Whitman, US investors view Kenyan youth as well-educated with a proper understanding of the English language.
“Kenya has the Silicon Savanah, with super smart engineers,” she stated.
“It is the leading destination for foreign direct investment and venture capital,” she added.
Besides a well-informed workforce, Whitman insisted that Kenya’s energy prospect attracts investors, with renewable energy as one of the areas the US was exploring in President Ruto’s administration.
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“Kenya has a consistent, transparent, and fairly administered national tax policy to attract and retain foreign direct investment and accelerate economic development,” she remarked.
“In 2022, the United States became Kenya’s largest export market, edging ahead of neighbouring Uganda,” Whitman disclosed.
She, however, urged the government to clamp down on graft which she indicated was affecting delivery in all sectors of the economy.
“Without a doubt graft is also a critical issue that must be addressed for Kenya to reach its full potential in all areas of development. Graft leads to misuse of public resources, slows economic growth and job creation, and damages the investment climate,” Whitman stated.
“Graft also undermines equal participation in the prosperity of this country and erodes public trust in institutions,” the US ambassador elaborated.
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