OPIC President and CEO Highlights U.S. Investments in Kenya
July 21, 2018
(OPIC)
Nairobi, Kenya - Overseas Private Investment Corporation (OPIC) President and
Chief Executive Officer Ray W. Washburne today visited Kenya to explore
investment opportunities, meet with government officials and visit some of the
projects OPIC has supported in the country. Kenya is the final stop on the
six-country trip to promote U.S. investment in Sub Saharan Africa, strengthen
partnerships, identify new opportunities to work with regional allies on
projects that drive economic growth and stability.
Among the projects Washburne visited was Mobius Motors which is being supported
by a $5 million OPIC loan. Mobius manufactures vehicles in Africa designed for
Africa’s roads and drivers supporting more opportunity for logistical
connectivity.
Earlier in his travel, Washburne met with American engineering and construction
firm Bechtel on the agency’s ready support for the Nairobi-Mombasa Expressway.
The more than 470 km road is critical to enhancing the strategic transportation
infrastructure along the Nairobi-Mombasa corridor -- a major corridor of
national and regional commerce and integration.
“Whether it’s transportation, digital networks, or value chain, reliable
connectivity has the power to transform emerging market economies,” Washburne
said. “And, the American private sector has the ability to play a huge role in
this growth by bringing critical investment, value, and American business
practices.”
Washburne is traveling to Africa to highlight OPIC's new Connect Africa initiative to invest more than $1 billion in
transportation, technology and value chains on the continent. The trip included
visits to Zambia, Rwanda, South Africa, and Botswana, and Uganda.
Africa is a longstanding priority for OPIC and accounts for about one-quarter of
the agency's $23 billion global portfolio. With the new Connect Africa
initiative, OPIC will focus on investments that will foster a more connected and
prosperous future for Kenya and all of Africa.
As part of his National Security Strategy, President Trump highlighted the need
for a modernized approach by the U.S. government to development finance to help
grow aspiring partners, promote economic relationships, and increase investment
in regions important to American interests.
Learn more about OPIC's Connect Africa Initiative
Welcome to the Exporting Source
Your one-stop resource for finding help to export to new customers, to learn about government export programs, to join export-promoting trade missions, to sign up for trade conferences and training, and to link to other exporting services. Whether you're an old hand at exporting or just getting started, the Exporting Source provides a place to locate foreign customers, export financing and foreign investment assistance.