Stockholm (NordSIP) – Denmark has committed an investment of KSh 15 billion (roughly USD 145 million) to the Kenyan market, with half of the funds going to sustainable development projects. The investment will span five years, and Denmark will work in tandem with the Kenya Association of Manufacturers and the Kenya Climate Innovation Centre towards its implementation, aiding the transition of Kenyan member enterprises towards green energy and the commercialization and scale-up of climate change-related enterprises.
“Our focus is on green growth and employment with the purpose of assisting Kenya in transforming its way of growing its manufacturing practices and agriculture in a direction that is environmentally sustainable but also which provides healthy jobs for Kenyans,” Denmark Ambassador to Kenya Mette Knudsen told the publication Capital FM Business.
Ambassador Knudsen spoke during the launch of a state of sustainability report finding that 82% of Kenyan Chief Executives acknowledge the effects of climate change on their business and that, furthermore, only 45% of Kenyans know what SDG’s (Sustainable Development Goals) are, with 57% of these preferring products from companies embracing sustainability.
Negative effects on Kenyan businesses wrought by climate change include flooding, health issues, infrastructure damage, drought, famine and soaring food prices. Cognisant of the effect these can have on contributing to war or war-like conditions, piracy and other afflictions in the Horn of Africa, the investment is part of broader Danish foreign and development policy to engage countries like Kenya and Ethiopia, not only out of humanitarian concerns but for reasons which are also in the national self-interest. Kenya is currently experiencing 5% annual growth.
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