President William Ruto concluded his two-day engagement on Tuesday, November 8, at the United Nations Climate Change Conference, COP27, in Egypt.
Ruto has since confirmed that Kenya was able to secure investment deals in upwards of Kshh3.6 trillion ($30 billion) during the conference.
“We are leaving Egypt with investments upwards of $30 billion, as you have seen we have signed off agreements with the UK, with private sector developers and we are leaving here with firm agreements on the exploitation of geothermal resources, wind, solar resources and shortly we will be on the highway on getting Kenya where we want her to be,” he said.
“Kenya is providing the leadership for Africa to be front and centre of the solutions to the challenge of climate change and not just a victim.”
The head of state secured multi-billion shillings deals with various companies and nations at the Sharm El Sheikh event.
“African COP, let us make Sharm El Sheikh the COP of effective decisions, resolute implementation and ambitious action,” the President assured.
Top on the list of goodies was the construction of a multi-billion-dollar fertilizer plant in Kenya.
On Monday, November 7, Ruto announced that Kenya entered into an agreement with a multinational firm to fast-track the development of affordable green fertiliser.
“Under the pact, Fortescue Future Industries and the Government of Kenya will work together to build a 300MW capacity generation green ammonia and green fertiliser facility by 2025,” State House wrote on Twitter.
President Ruto affirmed that the deal, signed in Sharm El-Sheikh, Egypt, will further move Kenya towards achieving its green energy goals.
“The shift will help reduce our reliance on imports, check the high cost of fertiliser and boost food production,” he stated.
Fortescue Executive Chairman and Founder, Dr Andrew Forrest, added that the partnership will create thousands of new jobs in Kenya.
The President, on September 13, assured the country that his government, through subsidies, reduced the cost of fertilizer from Ksh6,500 to Ksh3,500 for a 50-kilogram bag.
In Egypt, Ruto also signed a climate change deal with the United Kingdom government. UK and Kenya agreed to progress Ksh500 billion in new British investment projects to support the country’s leadership on climate change.
Among them was fast-tracking six green investment projects in agriculture and transport. UK Prime Minister Rishi Sunak and Kenyan President William Ruto brokered the deal on November 7, 2022.
Kenya also signed a climate change finance deal with Germany. Ruto thanked the Germans for their stand on climate issues and promised to work together to avert the global warming crisis.
“Kenya recognises that devolved climate finance is a meaningful and effective driver of change in communities. We thank the German Government for agreeing to generously scale up our action against the negative effects of climate change at the local level,” Ruto assured.
