Ruto takes Lamu 2.2 trillion investment push to New York

NAIROBI, Kenya—President William Ruto is expected to use his visit to New York for the 81st United Nations General Assembly to seek global investment for Kenya, with the proposed Sh2.2 trillion East Africa Refinery in Lamu among the key projects the government plans to promote.

The refinery is at the centre of Kenya’s investment push, with the government projecting that the project could create more than 60,000 jobs while strengthening energy security in Kenya and the wider East African region.

Ruto will co-chair investment roundtables organised by the Africa Finance Corporation and the Global Africa Business Initiative alongside Nigerian businessman Aliko Dangote, providing Kenya with an opportunity to showcase the refinery project to international investors.

The meetings come ahead of the project’s planned groundbreaking in Lamu on September 30, 2026.

State House spokesperson Hussein Mohamed said the President will use the UN General Assembly engagements to pursue partnerships in energy, infrastructure, manufacturing, health, agriculture and technology.

“The President will seek partnerships across energy, infrastructure, manufacturing, health, agriculture and technology to create jobs, expand productive capacity and open new markets,” Mohamed said.

Beyond the refinery, Kenya is seeking to attract investment into its technology and digital economy, with Ruto expected to promote the country’s ambitions in artificial intelligence.

The President and Finnish President Alexander Stubb will co-lead the AI Middle Powers Initiative, which seeks to enable countries to combine computing resources, data and talent to develop their own artificial intelligence capabilities.

Kenya will also advance the AI 10 Billion Initiative, a continental programme backed by the African Development Bank and other partners that seeks to mobilise up to $10 billion by 2035 to support AI adoption, digital infrastructure, entrepreneurship and jobs.

Ruto is also expected to promote Kenya’s digital economy and Nairobi’s position as a regional technology, trade and financial hub.

At the Next 3 Billion convening, he is expected to highlight Kenya’s digital finance ecosystem, including the scale of transactions through M-Pesa and the expansion of digital investment platforms.

The government says Sh41.68 trillion moved through M-Pesa in a single year, while platforms such as Ziidi Trader are expanding digital financial services beyond payments into investment.

On climate resilience, Kenya is expected to launch an Africa Resilience Compact that will use artificial intelligence, satellite earth observation and predictive technologies to strengthen preparedness for El Niño and other climate-related shocks.

Ruto will also pursue partnerships in sports, including initiatives involving the National Basketball Association aimed at expanding sporting infrastructure and opportunities for Kenyan youth.

On the broader financing agenda, the President is expected to advocate for greater use of African savings and assets to finance development under the “Africa-financing-Africa” approach.

State House says Africa holds more than $4 trillion in domestic savings and assets and is calling for reforms and international guarantees that could help unlock more of the capital for infrastructure and businesses.

Kenya is also expected to promote its proposed National Infrastructure Fund, which the government says could mobilise up to $40 billion without adding to public debt.

During the visit, Ruto is expected to meet heads of state and government, multilateral institutions and global corporations as Kenya seeks to expand trade, investment and diplomatic partnerships.

He will also meet Kenyans living in the United States as the government advances plans for a Diaspora Investment Platform intended to channel diaspora funds into productive investments in Kenya.