VIDEO: Green energy, capital dominates Uhuru’s meeting with billionaires

July 13, 2015
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President Uhuru Kenyatta met and discussed investment in green energy with global investors and billionaires who expressed confidence in Kenya’s economic model for the rest of Africa.

Speaking to CNBC Africa, Uhuru said the ready market for affordable energy in the country provided an opportunity for investors to partner with the government.

“We have developed clear policies to ensure geothermal potential and wind energy is fully harnessed. We are now working on building the biggest wind farm in Africa in Marsabit through a Public Private Partnership,” the President said.

The President also revealed the investors are looking to partner with entrepreneurs by providing start-up capital while the government provides the enabling environment.

President Uhuru also emphasized on the need to improve intra Africa trade by removing tariff and non-tariff barriers.

“It used to take 21 days to move a container from Mombasa to Uganda but it now takes less than three days. But more needs to be done. African Governments have to catch up with our people who are freely trading between each other,” added Uhuru.

Kenya has emerged as an investment destination of choice to a number of global trades in the region as it prepares to host to the 6th Global Entrepreneurship Summit. This is a first in Sub -Saharan Africa and top of the list will be investment in green energy.

The President met Virgin’s Sir Richard Branson Jacqueline Novogratz (founder and CEO, Acumen), Chris Anderson (curator, TED Conference) Dipender Saluja (Capricorn Investments), Steve Jurvetson (Draper Fisher Jurvetson), Strive Masiyiwa (founder and chair, Econet Wireless), Jean Oelwang (CEO, Virgin Unite) and Zia Khan of the Rockefeller Foundation.

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