NAIROBI, Kenya, May 17 – Denmark is set to invest Sh15 billion in the Kenyan market with an emphasis on sustainable development projects.
Denmark Ambassador to Kenya Mette Knudsen told Capital FM Business that the investment will be done over five years running from 2015 with half of the funds going to investment in projects that promote sustainable development goals.
“Our focus is on green growth and employment with the purpose of assisting Kenya in transforming its way of growing its manufacturing practices and agriculture in a direction that is environmentally sustainable but also which provides healthy jobs for Kenyans,” Knudsen said.
She said Denmark is working with the Kenya Association of Manufacturers to help member enterprises in the transformation of use of green energy.
The country is also funding the Kenya Climate Innovation Centre to incubate enterprises as well as improving the pace of commercialization and scale-up of climate change related enterprises.
Since its inception in September 2012, the centre has incubated 138 enterprises, 52 of which are now businesses that came in as ideas and created about 1163 jobs through these businesses.
Knudsen was speaking during the release of the state of sustainability report.
According to the report, 82 percent of Chief Executives in the country admit that climate change has affected their business.
Among the negative effects on climate change on businesses include flooding, Health Issues, Damage of Infrastructure and property Drought and Famine as well as soaring food prices.
Moreover, only 45 percent of Kenyans know what Sustainable Development Goals are. Of these 57 percent of them prefer products or services from companies that embrace sustainability over those that do not.