French President Emmanuel Macron finalizes USD 2.65 bn deal in Kenya

The President of France, Emmanuel Macron announced great partnership with Kenya after his first ever visit to the East African country. Accompanied by Kenya's President Uhuru Kenyatta, the French leader declared a series of public-private infrastructure deals, totalling Sh340 billion (USD 2.65 billion).

The deals announced by Emmanuel Macron include a 1.6 billion euro 30-year concession for a Vinci-led consortium to operate a highway between Nairobi and Mau Summit. Even renowned renewables firm Voltalia also fixed a contract of 70-million-euro for two solar power plants, while an Airbus-led consortium won a 200-million-euro contract for coastal and maritime surveillance.

Emmanuel Macron opined France wants trade and commercial relationships that are "much more fair and profitable for Kenyan people", adding the best kind of investment was one that respected the receiving country's sovereignty and was "sustainable".

The contracts were signed during a visit by President Emmanuel Macron, who is seeking to boost trade in the East Africa region. French exports to Kenya in 2017 amounted to between $170 million and $225.80 million, while China, Kenya's number one trading partner, exported goods worth $3.8 billion.

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