President William Samoei Ruto has invited Russian investors to establish industries in Kenya, saying the country seeks capital and technology to create jobs, expand production, and strengthen local manufacturing.
Speaking at the Russia-Kenya Business Roundtable in Moscow on Wednesday, October 28, Ruto told business leaders and investors that Kenya wants partnerships that go beyond trade and focus on industries, technology transfer, and job creation.
“For Kenya, the priority is to attract capital and technology that establish industries, expand productive capacity, and create jobs,” he said.
The President told the investors that Kenya offers access to one of Africa’s fastest-growing markets and is seeking deeper economic cooperation with Russia in sectors including energy, mining, fertiliser production, engineering, transport and manufacturing.
According to Ruto, Africa attracted about $70 billion (Ksh9 trillion) in foreign direct investment in 2025, while East Africa received $15 billion (Ksh1.9 trillion), representing a 12 percent increase.
Kenya attracted $3.2 billion (Ksh413 billion) during the year.
He said current economic ties between Kenya and Russia remain below their potential despite growing trade between the two countries.
In 2025, bilateral trade stood at about $380 million (Ksh49 billion).
Kenya exported goods worth $52 million (Ksh6.7 billion), mainly tea, coffee, flowers, fruits and vegetables, while imports from Russia reached $330 million (Ksh42.6 billion), including wheat, fertilisers, iron and steel products.
Russian investment in Kenya is estimated at $22 million (Ksh2.8 billion).
Creating Industries, Not Just Markets
Ruto said Africa must move away from a model that exports raw materials and imports finished products, arguing that this approach limits industrial development and denies countries the full value of their resources.
“This model has constrained Africa’s industrial development and denied our people the full economic benefits of their resources. It is neither sustainable nor acceptable,” he said.
The President said Kenya is seeking partnerships that create value through local processing, manufacturing, skills development, and job creation.
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“Not simply markets for finished products, but opportunities to establish industries, transfer technology, develop skills and create jobs,” he said.
He invited Russian businesses to combine their capital and industrial expertise with Kenya’s resources and workforce, saying both countries stand to benefit from such investments.
Ruto told investors that Kenya has a population of 55 million people, a Gross Domestic Product of $136 billion (Ksh17.6 trillion), and a recorded 5.3 percent economic growth in 2025.
He also highlighted the country’s financial sector, noting that the Nairobi Securities Exchange delivered returns of 52 per cent in US-dollar terms in 2025, placing it among Africa’s best-performing markets.
Ruto on Jobs, Energy and Manufacturing
The President said Kenya is implementing an economic transformation programme focused on agriculture, industrialisation, infrastructure, healthcare and the digital economy.
He revealed that the government plans to mobilise $40 billion (Ksh5.2 trillion) for infrastructure development over the next decade through the National Infrastructure Fund.
Ruto said Kenya generates 93 percent of its electricity from renewable energy sources and is pursuing investments in geothermal energy, green hydrogen, electric mobility and energy infrastructure.
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He also invited Russian investment in agriculture, mining, transport, heavy engineering and manufacturing, saying the goal is to establish enterprises that process local resources, strengthen supply chains, transfer skills and create employment opportunities.
The President said Kenya’s youthful population is one of its strongest attractions for investors, noting that the country has a median age of 20 years and nearly eight in every 10 citizens are below 35 years.
He further said Kenya’s digital economy offers significant opportunities, with nearly 85 per cent of adults financially included and mobile money transactions exceeding $450 billion (Sh58 trillion) in 2025.
Ruto told the investors that companies investing in Kenya would gain access to a market of 1.5 billion people through the African Continental Free Trade Area, which represents a combined economy valued at $3.7 trillion.
“Invest in Kenya, manufacture in Kenya, and serve Africa and the world from Kenya,” he said.
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