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Originally published by The Standard BusinessNovember 13, 2025
3h ago
Lender deepens Kenya ties with Sh19b bet on infrastructure, energy
UBA Group Chairman and investor Tony Elumelu has pledged deeper collaboration in infrastructure, energy, and economic empowerment following talks with President William Ruto in Nairobi...
✨ Key Highlights
The United Bank for Africa (UBA) Group, led by Chairman Tony Elumelu, has pledged deeper collaboration with Kenya, committing Sh19.5 billion ($150 million) towards infrastructure and energy projects following discussions with President William Ruto in Nairobi.
- UBA’s Sh19.5 billion ($150 million) investment specifically targets the Sh130 billion ($1 billion) Road Infrastructure Securitisation Programme.
- President Ruto highlighted Kenya’s plan to generate an additional 10,000 megawatts of power over the next seven years, a Sh1.95 trillion ($15 billion) energy expansion drive.
- The Tony Elumelu Foundation will continue to support youth- and women-led enterprises and promote digital banking in alignment with Kenya’s bottom-up economic model.
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