The transformation of Africa demands a strong and purposeful partnership between the public and private sectors, President William Ruto has said, emphasizing that only through such collaboration can the continent unlock the full potential of its people and resources.
Speaking at State House, Nairobi, President Ruto hosted Mr. Tony Elumelu, Group Chairman of United Bank for Africa (UBA) and Heirs Holdings Group, and his delegation. During the meeting, Mr. Elumelu reaffirmed his enduring belief that Africa’s private sector must play a central role in driving the continent’s development.
In a landmark commitment, Mr. Elumelu pledged $1 billion towards infrastructure development in Kenya, a move President Ruto described as a powerful testament to shared purpose and vision for Africa’s future.
“This pledge is more than an act of financial investment; it is a testament to a shared vision for Africa’s future built on enterprise, innovation, and shared prosperity,” said President Ruto.
The partnership between the Kenyan Government and Heirs Holdings will focus on key sectors central to the country’s transformation agenda, including:
- Enhanced power generation to expand access to affordable and sustainable energy;
- Strengthened food security through modern agricultural practices and agribusiness investments; and
- Expansion of road and rail networks to improve regional connectivity and trade.
President Ruto noted that this collaboration exemplifies the kind of bold, forward-thinking partnership needed to achieve inclusive growth and sustainable development across Africa.
“Together, we are shaping a new era of opportunity — one where government and business work hand in hand to deliver prosperity for our people,” he added.
Mr. Elumelu, a renowned African entrepreneur and philanthropist, praised Kenya’s commitment to economic reform and innovation, highlighting that investment in infrastructure and energy is key to unlocking the continent’s potential.
The meeting marks a major milestone in strengthening the relationship between Kenya and the African private sector, setting the stage for deeper cooperation in achieving Africa’s transformation goals.
