Greg Hands signs MoU to promote bilateral trade and investment between UK and Kenya

Greg Hands and Betty Maina
Greg Hands and Betty Maina sign an MoU to further two-way investment flows between the UK and Kenya. Photo: Twitter/GregHands

Yesterday, the UK’s Minister of State for International Trade, Greg Hands, signed a Memorandum of Understanding (MoU) with Principal Secretary of Investment and Industry Betty Maina, on behalf of the Kenya Investment Authority (KenInvest).

The MoU is expected to help promote and enhance bilateral trade and investment between Kenya and the UK, the largest foreign investor in the country.

Greg Hands in Kenya
Greg Hands and Betty Maina sign the MoU with UK High Commissioner Nic Hailey. Photo: Twitter/UKinKenya

PS Maina, has encouraged UK companies to engage and invest in the opportunities presented by President Uhuru Kenyatta’s Big 4 Agenda which consists of affordable housing, food security, affordable healthcare and revamping the manufacturing sector.

There is already a strong foundation for promoting UK investment in Kenya with 7 of top 10 tax payers in Kenya being UK companies and 1 in 10 of Kenyans in formal employment working for British companies.

The leaders of KenInvest, the Export Processing Zones Authority and the British Chamber of Commerce Kenya attended the meeting along with the UK High Commissioner to Kenya, Nic Hailey and his deputy Susie Kitchens.

Later in the day, Mr Hands toured the East African Breweries plant in Nairobi and spoke at the Commonwealth Women’s Forum which celebrated female entrepreneurs in Kenya.