Wednesday, November
12, 2025 - President William Ruto has announced a landmark investment
commitment from Nigerian billionaire, Tony Elumelu, following a high-level
meeting at State House, Nairobi, on Wednesday, November 12th, 2025.
Elumelu, Chairman of United Bank for Africa (UBA) and Heirs
Holdings Group, pledged $1 billion (approximately Ksh129 billion) to support
Kenya’s infrastructure development.
The investment is expected to boost key sectors including
energy, transport, and agriculture.
“Mr. Elumelu’s enduring belief that Africa’s private sector
must play a central role in driving the continent’s development is exemplified
through his commitment of $1 billion towards infrastructure development in
Kenya,” Ruto stated.
The President emphasized that the pledge aligns with his
administration’s transformation agenda, which prioritizes strategic
partnerships to accelerate national progress.
“This pledge is more than an act of financial investment; it
is a testament to a shared vision for Africa’s future built on enterprise,
innovation, and shared prosperity,” he added.
Ruto highlighted that the funds will support enhanced power
generation, improved food security, and the expansion of road and rail
networks, critical pillars of Kenya’s development blueprint.
The Kenyan DAILY POST
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