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    Kenya: German Chancellor Olaf Scholz seeks to strengthen economic ties, particularly in the clean energy sector

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    Kenya Staff Writer
    Kenya Staff Writerhttps://www.africanboulevard.com
    The African Boulevard Africain Editorial Team brings you Kenya news and breaking news headlines in Politics, Economy, Business, Investment and Entertainment. We are unbiased, moved only by the quest for truth.
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    Nairobi, Kenya – (African Boulevard News) – On Friday, President William Ruto of Kenya welcomed German Chancellor Olaf Scholz for the second leg of his African tour, as he seeks to strengthen economic ties, particularly in the clean energy sector.

    Scholz’s visit comes after he spent two days in Nigeria, where he signed a bilateral agreement for energy cooperation and pledged €10 million towards the construction of a solar power plant in the country. Kenya, which has one of the most developed renewable energy sectors in sub-Saharan Africa, has long been a target for German investors looking to tap into the country’s growing demand for clean energy.

    According to a statement from the Kenyan presidency, Ruto and Scholz discussed a wide range of issues, including climate change, energy, and economic cooperation. The statement also noted that the German delegation expressed interest in investing in the Kenyan energy sector, particularly in solar, wind, and geothermal energy.

    In addition to the energy sector, Scholz and Ruto discussed ways to boost bilateral trade between the two countries. Germany is one of Kenya’s largest trading partners, with bilateral trade between the two countries reaching €450 million in 2022.

    During his visit, Scholz also met with representatives from the Kenyan private sector, including companies in the energy, technology, and manufacturing sectors. He also visited the Kenyan-German Centre for Natural Resources Management, a joint initiative between the two countries that aims to promote sustainable natural resource management in East Africa.

    Speaking after his meeting with Ruto, Scholz reiterated Germany’s commitment to supporting Kenya’s development agenda, particularly in the areas of energy and climate change. “We have a shared interest in promoting sustainable development and tackling climate change. Germany is keen to work with Kenya to drive renewable energy development, reduce greenhouse gas emissions, and promote environmentally sustainable economic growth,” he said.

    Scholz’s visit comes ahead of the 2023 United Nations Climate Change Conference (COP29) in Mombasa, Kenya, where leaders from around the world will gather to discuss ways to address the urgent environmental challenges facing the planet. The German chancellor’s visit is seen as a sign of the growing importance of Africa as a key player in the global energy transition.

    As clean energy continues to drive economic growth across the continent, investors from around the world are increasingly looking to tap into Africa’s vast renewable energy potential. Scholz’s visit is a testament to the continent’s growing importance as a hub for clean energy investment and innovation.

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    Kenya Staff Writer

    The African Boulevard Africain Editorial Team brings you Kenya news and breaking news headlines in Politics, Economy, Business, Investment and Entertainment. We are unbiased, moved only by the quest for truth.
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