AfDB to double investment funding in Kenya

July 23, 2018
Shares
Energy CS Charles Keter with AfDB President Akinwumi Adesina. AfDB has provided funding equivalent to US$ 145 million for drilling at Menengai field for the 400 MW project.

, NAKURU, Kenya, Jul 23 – African Development Bank President, Akinwumi Adesina has said AFDB will double its funding to Kenya.

He said the bank was impressed by the Last Mile Connectivity which it has been funding describing it as the most impactful project to the general public.

Speaking at Ol-Rongai area in Nakuru County on Saturday, July 21 when he commissioned a Last Mile Connectivity Program, Adesina noted that through the project, 3.3 million had been connected to power in less than four years.

“Kenya has embraced an innovative model where the government subsidizes to connect people thus reducing the cost of connection from Sh35,000 to Sh15,000,” he said.

Adesina who was accompanied by Energy Cabinet Secretary, Charles Keter and his Finance counterpart, Henry Rotich had earlier on Sunday unveiled a multi-billion Geothermal Development Company project at Menengai Crater.

“The 3.3 households connect to power can now live quality lives and run businesses smoothly,” said the AFDB President.

He noted that from 25 per cent electricity coverage in the country, the project had managed 72 per cent now with a target of hitting 98 per cent by 2022.

“It is such a bad feeling when people see power lines passing over their homes yet they are not connected and President Uhuru Kenyatta through the Last Mile Connectivity wants to end that turmoil,” he said.

He noted that many people in Africa were resulting to illegal connections which caused death and loss of revenue for the power companies and governments.

“Approximately 300,000 children die in Africa annually from kerosine smoke and a similar number of women died due to smoke-related problem because of lack of power,” said Adesina.

Keter said AFDB had given a total of Sh30 billion for the first and second phases of the project.

He said 50 homes in Ol-Rongai would be connected through the second phase that is running in different parts of the country.

“The government through my ministry is negotiating for a third phase,” he said.

Latest Articles

Business Podcasts

Live prices

Stock Market

Most Viewed