O’Donohoe was speaking at a function in Nairobi to launch the rebranded Development Finance Institution (DFI) in Kenya. He joined British High Commissioner Jane Marriott at her Nairobi residence. In attendance were 150 guests, including business leaders and BII’s investment partners.
“We helped establish the Kenya Tea Development Authority in 1964, and we’ve continued to support the company’s growth to become the world’s third-largest exporter of tea and Kenya’s second-largest source of foreign exchange.”
To this extent, the BII said it would support digital transformation through a US$220 million financing to Africa’s largest telecoms company, Liquid Telecom, which is improving access to high-quality internet.
“As we embark on this new chapter, we know the country will continue to hold an important place in our future and we look forward to working with all of you in the decades to come,” said O’Donohoe.
BII has an office in Kenya, which is headed by Seema Dhanani. Today, BII has a portfolio of nearly GBP 500 million in Kenya, supporting 30 regional funds and more than 80 businesses, which in turn support over 36 000 jobs.
Besides digital infrastructure, the DFI’s investments in Kenya, both direct and through various funds and intermediaries, cover a variety of sectors. This includes clean infrastructure and energy, food and agriculture, financial services, and logistics.