Ruto & Biden Unveil Major Investment Agenda

On May 23, 2024, Kenyan President William Ruto and U.S. President Joe Biden announced a series of new investment deals aimed at deepening the economic ties between the two nations. This announcement came during President Ruto's state visit to the United States, marking a significant milestone in U.S.-Kenya relations.

The agreements, worth approximately $250 billion, are part of a broader effort to boost trade and investment between Kenya and the United States. These deals cover various sectors, including infrastructure, textiles, technology, clean energy, and healthcare. One notable aspect of the visit was the promotion of over 30 bankable projects aligned with Kenya's Bottom-Up Economic Transformation Agenda (BETA), highlighting opportunities for U.S. investors​ (Capital News)​​ (Nation)​.

The state visit, which coincides with the 60th anniversary of U.S.-Kenya diplomatic relations, also emphasized shared commitments to advancing peace, security, and democratic values. Both presidents expressed their support for the bottom-up economic model, which focuses on building the economy from the grassroots level up, as a sustainable approach to economic development​ (The Standard)​​ (Pulselive Kenya)​.