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<p><strong> President Uhuru Kenyatta announced that Kenya will double its stake in Africa50, a unique continental platform to finance the development of infrastructure in Africa. billion kwacha, which initially had a capital of 50 million dollars, about 5 billion shillings, is one of the founding investors of the venture capital fund supported by the African Development Bank (AfDB). 19659003] Speaking at the official opening of the 53rd President Kenyatta said Kenya was pleased with the role played by the Fund in transforming Africa, adding that Kenya will double its stake in the African Union. 39, continental initiative. </p>
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Get the latest news on your mobile as you go. "I am pleased to announce that Kenya will double its investments in Africa50 to $ 100 million. ars, "said President Kenyatta at the meeting, which was attended by participants from all over Africa.
While praising the growing number of projects funded by Africa50 in Kenya, the Head of State stressed the importance of the private sector in filling the investment gap on the continent. continent and challenged the African private sector to set a good example by investing in Africa so that other investors around the world can trust President Kenyatta pointed out that the vision of Africa50 supports the development agenda of the big four of Kenya, which includes universal health care, food security, affordable housing and improved manufacturing to create more jobs. attracts investment and is the backbone on which the Big Four Agenda of its administration will be realized. 9659004] "The development of infrastructure is crucial because none of the big four will be realized without adequate infrastructure." The chairman of Africa50's Board of Directors, Akinwumi Adesina, said that Kenya had achieved considerable infrastructure development under the presidency of Kenyatta
Adesina, which is also the African Development Bank.The President said that Africa50 provides a new framework to meet Africa's development needs. , adding that the continent has a funding gap of up to $ 108 billion in infrastructure.
Speaking at the event, Henry Rotich, Secretary-General Ebobisse said the platform will Pan-African investment had a capital base of $ 890 million and urged more African entities, including governments, to invest more money. in the Fund.
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