Private Sector and Donors Key to Kenya’s Transformation

The International Finance Corporation (IFC), the private sector arm of the World Bank, will partner with Kenya to strengthen the role of the private sector in national transformation.

The IFC will work with Kenya in food production, housing, water harvesting and capital markets through private-public partnerships.

At a meeting with Mr Makhtar Diop, the managing director of IFC, at State Nairobi, Friday, President William Ruto said Kenya plans to double the acreage under irrigation necessitating the construction of dams.

“Our plan is to work with the private sector to achieve our objectives on water. They can build the dams, we can buy the water for irrigation and the IFC can help us put it all together.”

Other areas of cooperation will include digitisation and agricultural inputs.

Speaking at the meeting, Mr Diop, asked the President to be Africa’s voice for greater private sector involvement in trade.

He pointed out that the Africa Continental Free Trade Area is a great opportunity for Africa’s private sector to be involved in transformation.

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