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Thursday, May 30, 2024

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    New pact between Saudi Arabia and Kenya inks to help Kingdom penetrate African market

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    Mogadishu

    Kingdom of Saudi Arabia plans to use Kenya as a gateway to expand its economic ties into Africa.

    Speaking while he hosted Kenyan president William Ruto in Riyadh,Crown Prince of Saudi Arabia Mohammed Bin Salman said Kenya is a pillar of stability and growth in Africa.

    “We have to pay closer attention to it; Kenya is a country with a tremendous future,” he said.

    The Crown Prince noted that Saudi Arabia was committed to pushing for more investments in Kenya.

    He said that particular focus would be paid on the renewable energy sector.

    Kenyan head of state said Africa has made progress in economic growth, regional cooperation and democratization.

    However, he regretted that insecurity, violence and terrorism risk slowing the advancements.

    “We must come up with a lasting solution to the conflicts in Africa if we are to progress further,” said President Ruto.

    He called for more cooperation from the globe to tame the crisis.

    In particular, the President urged Saudi Arabia to step forward to make Africa more peaceful because of “our shared vision”.

    “We have a long-standing tie, yet we have not explored it fully.”

    On his side, the Crown Prince exuded confidence that Saudi Arabia will work with Kenya to spur regional stability.

    “We definitely need security in East Africa and Red Sea. If Kenya is a success, then Africa is,” explained the Crown Prince.

    Earlier, the two leaders attended the opening session of the Future Investment Initiative.

    The President said the world can only grow and prosper when countries work together.

    “That is how we can discover, navigate and expand new frontiers and markets.”

    President Ruto also met the PepsiCo’s CEO for Africa, Middle East and South Asia Eugene Willemsen.

    The two discussed approaches to advancing farming in Kenya to increase production.

    “PepsiCo’s broadening of its portfolio will accelerate Kenya’s exploitation of irrigation-fed agriculture, expanding economic opportunities for our youth,” he said.

     

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