US Ambassador to Kenya Urge Pension Funds to Pick Kenya

US Ambassador Kyle McCarter has urged US pension schemes to invest in Kenya.

In his statement to US private and public pension managers, Mr. McCarter highlighetd Trump-Kenyatta pledge of working together in the elimination of graft, establishment of business platforms and improving security.

“Kenya-US partnership is a strategic one that seeks to boost security in both countries. Our role is to boost direct US investments in Kenya while ensuring locals benefit from the investments,” he said.

He further added that the Mombasa-Nairobi road contract that will cost Sh350 billion is set to be signed on April 17 and is to implemented by a US company. He made the remarks while addressing members of the US National Association of Securities Professionals (Nasp).

“The Trump-Kenyatta partnership is about investments, security, support, and development. Kenya is already a hub for numerous US companies where we have spent over Sh1 billion in improving healthcare, agriculture, education, and security,” he said.

Fight against corruption in the country has been heightened. Previously, several top government officials were arrested over allegations of involvement in corrupt deals.

Some of the cases that have gotten the public interest are the three dams where Sh21 billion was reported to have been spent without work.

According to Kenya Pension Fund Investment Consortium (Kepfic) chairman Sundeep Raichura, 14 investments schemes had already shown their interest and readiness to partner with the US counterparts in funding local infrastructure. The 14 investment schemes do have control of Sh254 billion.

Nasp chairlady Donna Sims Wilson, who is heading the lobby Mobilising Institutional Investors to Development Africa’s infrastructure said American funds were looking at various Kenyan sectors including infrastructure for investment.

Source: https://www.nation.co.e/business/US-pension/funds-urged-to-pick-Kenya/996-5055702-2q22jy/index.html

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