Kenya is targeting a significant expansion of its electricity generation capacity, with plans to raise installed capacity from about 3,500 MW to 10,000 MW within the next seven years, President William Ruto has announced.
According to The Star, Ruto said the planned expansion would open up investment opportunities across several areas of the energy sector, including geothermal power, electricity transmission, battery storage, industrial power, green hydrogen and electric mobility.
“In the energy sector, we are expanding national generation capacity towards 10,000 MW over the next seven years,” he said.
Speaking at the American Chamber of Commerce Business Summit, the president stressed that Kenya’s economic transformation could not be achieved through government efforts alone. He therefore called on the private sector to bring in capital, technology and expertise to complement public investment.
“Government cannot deliver economic transformation alone. Our responsibility is to provide infrastructure, uphold predictable rules and create an enabling environment,” he said.
“The private sector turns those foundations into factories, technologies, exports and jobs.”
Ruto said collaboration with businesses was a fundamental part of Kenya’s development strategy rather than an optional element of the country’s economic transformation.
“That is why our partnership with business is not incidental to Kenya’s transformation; it is indispensable,” he said.
He also encouraged American and other international companies to consider Kenya as a gateway to the wider African market rather than focusing solely on the country’s domestic economy.
“Do not look at Kenya simply as a market. Look at Kenya as your platform to a continent of 1.4 billion people,” Ruto said.
“Produce here. Innovate here. Build your regional headquarters here and serve Africa from here.”
The president noted that Kenya had already secured substantial investment commitments from U.S. companies, with American businesses pledging more than $600 million towards new projects since the previous American Chamber of Commerce summit.
Among the investments highlighted by Ruto was Oracle’s decision to establish its first public cloud region in Africa in Kenya. He also cited Coca-Cola’s $175 million investment and Mars Wrigley’s $103 million production line launched at Athi River.
Ruto further disclosed that SC Johnson was setting up a new manufacturing facility that would supply products to Kenya and other African markets.
He also welcomed interest from Ford in assessing potential investment opportunities in the country, linking the possible investment to his administration’s broader efforts to generate employment and increase local value addition.