Kenya increases shares in Africa50
News & Trends •
source63 kenya has resolved to increase by 50 per cent its shareholding in africa50 a continental initiative for funding infrastructure development1 kenya which initially had a share capital of 50 million is one of the founder investors in the venture fund which is supported by the african development bank afdb1 he made the announcement at the official opening of the 53rd shareholders meeting of africa50 in nairobi1 kenyatta said that kenya was pleased with the role the fund was playing in the transformation of africa1 kenyatta noted that kenya was particularly pleased that investments by africa50 gave market rate returns1 i am pleased to announce that kenya will double its investment in africa50 to 100 million said kenyatta 1 president uhuru kenyatta of kenya said the countrys shares has been increased to 100 million1 kenyatta observed that africa50s vision is supportive of kenyas big four development agenda which includes universal health care food security affordable housing and enhancing manufacturing to create more jobs1 he observed that infrastructure attracts investment and forms the backbone upon which his administrations big four agenda will be achieved1 infrastructure development is crucial because none of the big four will be achieved without proper infrastructure. it is a key enabler for development said kenyatta1 the chairman of the board of directors of africa50 dr. akinwumi adesina said kenya has achieved tremendous infrastructure development under president kenyatta1 adesina who is also the african development bank president said africa50 provides a new framework to address africas development needs adding that the continent has an infrastructure funding gap of as much as 108 billion1 while praising the growing number of projects financed by africa50 in kenya he underscored the importance of private sector in bridging investment gaps on the continent and challenged africas private sector to set a good example by investing in africa so that other investors from around the world can have the confidence to channel their funds to the continent1