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Kenya will double its shareholding in the continent's platform for funding infrastructure development, Africa50.
President Uhuru Kenyatta on Thursday said Kenya was pleased with the role of the Fund is playing in the transformation of Africa. Africa50 funds infrastructure and Kenya seeks to increase its investment by 50% to Sh10 billion.
Kenya, which initially had a share capital of $ 50 million, approximately Shs5 billion, is one of the founders investors in the venture fund which is supported by The African Development Bank (AfDB).
Speaking when he was at the 53rd shareholders meeting of Africa50 at Kempinski Hotel in Nairobi, President Kenyatta said:
"President of Kenya Kenyatta at the meeting. importance of private sector in bridging investment gaps on the continent. He challenged Africa 's private sector to set a good example by investing in Africa
President Kenyatta observed that Africa50' s vision is supportive of Kenya 's Big Four development agenda which includes universal health care, food security, affordable housing and enhanced manufacturing.
He observed that infrastructure and investment in the infrastructure of the Big Four agenda will be achieved
"Infrastructure development It is a key enabler for development, "said President Kenyatta.
The Chairman of the Board of Directors of Africa50 Akinwumi Adesina said Kenya has achieved tremendous infrastructure development under President Kenyatta
Adesina, who is also the African Development Bank President, Africa50Chief Executive Officer Alain Ebobisse said the Pan-African investment platform has a capital base of $ 890 million
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