US Multinationals Scooped Up Deals During Obama’s Visit To Kenya


A presidential stopover in Nairobi to meet “global entrepreneurs” turned out to be a windfall for mega-development projects, bank lenders and U.S. corporations.

Fresh details are emerging in local media about the deals struck between the U.S. and Kenyan governments during the visit of President Barack Obama. A so-called American package, they said, reaffirms a “government to government” partnership, making it safer for American companies such as General Electric and Bechtel to grow their businesses in Kenya.

U.S. companies are particularly eager to get in on the Lamu Port Southern Sudan-Ethiopia Transport Corridor, or LAPSSET, which entails the construction of a deepwater port, an 880-megawatt liquefied natural gas–fired power plant, an oil pipeline to transport crude finds in northern Kenya and neighboring Uganda and a desalination plant to address water shortages in the area.

Read More: US Multinationals Scooped Up Deals During Obama’s Visit To Kenya

Next Post

Black banks shut out of $3.5B in New Markets Tax Credits

On June 15, the Community Development Financial Institutions Fund (CDFI Fund), an arm of the Treasury Department, issued $3.5 billion in New Markets Tax Credit (NMTC) allocation to 76 entities across the country. No funds were awarded to the nation’s minority banks. Read More: Black banks shut out of $3.5B […]