Kenya gets Ksh 10B grant from Japan

Kenya gets Ksh 10B grant from Japan

Japan has the pledged Ksh 10 billion grant to Kenya to go to economic and social development programmes in the country.

This was ratified by signing of bilateral agreements between Kenya and Japan that seeks to increase Japanese investments in the country.

President Uhuru Kenyatta says he is confident that the Kenya-Japan relationship will spur investment in the country and Africa at large.

Kenya signed 16 MOUs out of 73 MOUs signed at the just concluded Tokyo International Conference on African Development (TICAD) that was attended by more 100 Japanese companies and more than 30 Heads of States.

The President said that Kenya has signed a document on promotion and protection of investment, a move that is expected to spur Japanese investment in Kenya.

“Kenya has also signed an agreement with Japan to increase capacity at the Port of Mombasa,” he said.

While addressing the press at State House, Nairobi, President Kenyatta said the bilateral agreements between the two countries will increase Japanese investment in Kenya through government-to-government arrangements as well as through the private sector players.

Japanese Prime Minister, Shinzo Abe, said Kenya and Japan has initiated tax treaty negotiations that are expected to promote the bilateral investments and economic exchanges by eliminating double taxation.

“What the Japanese desire on the part of Africa is very clear. They seek the establishment of safe business environment and realization of free and stable corporate activities,” said Abe.

Other areas that Kenya seeks to leverage in include infrastructure, agriculture, health care system and technology.

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Story By Sofia Ali
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