News

William Ruto in London: New Agreement Aims to Double Kenya-UK Trade by 2030

William Ruto in London: New Agreement Aims to Double Kenya-UK Trade by 2030
Tuesday, 01 July 2025 14:53

• Kenyan President William Ruto signs strategic partnership with UK Prime Minister Keir Starmer to boost trade, security, and technology cooperation.
• Agreement targets doubling bilateral trade volume by 2030, from £1.8 billion in 2024.
• UK commits $1.7 billion to support Kenya’s priority development sectors.

On an official visit to the United Kingdom, Kenyan President William Ruto will meet with British Prime Minister Keir Starmer to sign a new strategic partnership agreement for 2025–2030. The accord, announced on June 29, on Kenyan national television, aims to deepen cooperation between Nairobi and London in critical areas such as trade, security, climate action, and technological innovation.

A key objective of the agreement is to double the value of bilateral trade between the two countries by 2030. In 2024, trade between Kenya and the UK totaled £1.8 billion ($2.4 billion), reflecting a 10.1% increase over 2023, according to figures from the British government. 

UK Commits $1.7 Billion in Support

As part of this renewed economic partnership, the United Kingdom has pledged $1.7 billion to support Kenya’s development priorities, focusing on infrastructure, green energy, manufacturing, and digital transformation. 

British authorities noted that outward foreign direct investment (FDI) from the UK to Kenya reached $1.06 billion by the end of 2023, marking a 22.1% increase compared to the previous year. 

In addition, President Ruto’s visit to London is expected to confirm the establishment of a regional underwriting hub within the Nairobi International Financial Centre (NIFC). This initiative aims to position Nairobi as a financial gateway to sub-Saharan Africa.

A Broader International Agenda

The London leg of President Ruto’s European tour follows his visit to Spain, where he attended the 4th International Conference on Financing for Development in Seville. There, the Kenyan president called for fairer partnerships, reforms to the global financial system, and stronger African integration into global value chains, especially amid the ecological transition.

This European tour comes as Kenya faces persistent fiscal pressures. Confronted with high public debt and constrained budgetary space, the government is prioritizing private investment to fund its development projects. Through the Bottom-up Economic Transformation Agenda (BETA), Kenyan authorities aim to accelerate economic growth, reduce unemployment, and improve resilience against external shocks.

This article was initially published in French by Charlène N’dimon

Edited in English by Ange Jason Quenum

 

On the same topic
Somali President Hassan Cheikh Mohamoud visited Egypt to boost cooperation in political, economic, security, and military sectors. Discussions...
• China approved soybean meal imports from Ethiopia on July 3, 2025.• Ethiopia exported 29,408 tonnes of soybeans to China in 2024, earning $18...
• Nigeria launches VetWiz 2.0, an AI-driven app for livestock diagnostics.• Animal diseases cost Nigeria over $7 billion annually.• The tool...
(EBID) - The Board of Directors of the ECOWAS Bank for Investment and Development (EBID) has approved a USD 120 million financing facility for Engineers &...
Most Read
01

• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...

Coffee: Global Consumption Expected to Reach Record Level in 2025/2026
02

• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...

Algeria Awards Commercial 5G Licenses
03

• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...

Afreximbank Bonds Retain Market Confidence Despite Moody’s Downgrade
04

• Kenyan President William Ruto signs strategic partnership with UK Prime Minister Keir Starmer to b...

William Ruto in London: New Agreement Aims to Double Kenya-UK Trade by 2030
05

• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...

IFC Plans Investment Fund to Help Grow African Film Industry
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.