President William Ruto has pitched a $40.02 billion (Sh5.2 trillion) infrastructure investment plan to Russian investors, seeking to improve traditionally underwhelming business ties with the European power.
President Ruto touched down in Moscow on Wednesday to a packed agenda, with the primary meeting being the third Russia-Africa Summit.
But he was also carrying a bag full of ideas for his pet projects, including housing, infrastructure and energy sufficiency, all of which are capital-intensive.
Trade with Russia has often been below par. It is also dominated by Kenya’s imports and exports of raw materials to Russia. Now Ruto says Kenya’s business environment is getting better.
Speaking at the Russia-Kenya Business Roundtable in Moscow, Dr Ruto said Kenya was mobilising $40 billion (Sh5.2 trillion) over the next decade for infrastructure development, and that Russian capital and technology could help boost industrialisation in Kenya.
“Our proposition is straightforward: Invest in Kenya, manufacture in Kenya, and serve Africa and the world from Kenya.
“With a population of 55 million, a GDP (Gross Domestic Product) of $136 billion (Sh17.67 trillion) and economic growth of 5.3 per cent in 2025, we offer a substantial domestic market and a strategic gateway to East and Central Africa,” he said.
“Our economy is supported by a dynamic private sector, sophisticated financial services and expanding infrastructure.”
Business dealings between Russia and Kenya haven’t always been strong. Moscow was second only to Berlin in recognising Kenya’s independence from the United Kingdom. In modern times, geopolitical tensions, including sanctions on Russia for its war on Ukraine, have hampered the growth of trade. Nonetheless, Russia has been among the biggest sources of grain consumed in Kenya. Imports from Russia stood at $330 million (Sh42.88 billion) and included wheat, fertilisers, iron and steel products. Russian investment in Kenya was estimated at $22 million (Sh2.86 billion), official data shows.
Ruto said such business meetings should translate the goodwill between the two sides into tangible commercial outcomes.
“We want partnerships measured not simply by agreements signed, but by projects implemented, industries established and jobs created,” he said.
The President identified energy, fertiliser production, agricultural machinery, mineral processing, transport, heavy engineering and manufacturing as priority sectors for Russian investment.
He said Russian expertise in these industries could help Kenya move away from exporting raw materials and importing finished goods, a trade pattern he argued had limited industrial development and employment opportunities across Africa.
“Not the extraction of resources alone, but the creation of value,” he said, calling for partnerships that transfer technology, develop skills and establish industries locally.
The push for deeper economic cooperation comes against the backdrop of trade between the two countries that remains heavily tilted in Russia’s favour. According to President Ruto, bilateral trade amounted to approximately $380 million (Sh49.38 billion) in 2025, with Kenya exporting goods worth $52 million (Sh6.76 billion), mainly tea, coffee, flowers, fruits and vegetables.
Dr Ruto said the figures called for a rethink of the economic relationship, arguing that Africa had for too long exported raw materials while importing manufactured goods, leaving much of the value, industrial activity and employment to be created elsewhere.
He said Kenya wanted partnerships based on equal terms and shared benefits rather than dependence.
“This model has constrained Africa’s industrial development and denied our people the full economic benefits of their resources. It is neither sustainable nor acceptable. Kenya, and indeed Africa, is determined to pursue a different path. We seek partnerships founded on sovereign equality, mutual respect, and shared prosperity. Not relationships of dependency, but partnerships of mutual benefit,” he said.
Mr Ruto said the government wanted Russian investors to establish industries that would process agricultural produce, manufacture goods and develop mineral resources locally.
“When Kenya processes more agricultural produce, manufactures more goods and develops its mineral resources, we create jobs and expand incomes at home, generating new investment opportunities, stronger supply chains, and larger markets for our partners,” he said.
Dr Ruto said the figures demonstrated the need to transform the relationship by increasing investment and expanding Kenya’s capacity to manufacture goods locally.
“Our ambition is not to divide existing value differently, but to create more value together and share in the prosperity it generates,” he said.
Kenya is also seeking Russian participation in its energy transition, with the President noting that 93 per cent of the country’s electricity comes from renewable sources.
He identified geothermal development, green hydrogen, electric mobility and energy infrastructure as areas offering investment opportunities.
Agriculture is another priority, with the government seeking investment in irrigation, mechanisation, affordable farm inputs and agro-processing to boost productivity and food production.
Mr Ruto also pitched Kenya as a regional manufacturing and export hub, citing its access to the African Continental Free Trade Area, which connects businesses to a continental market of 1.5 billion people.
He said Kenya’s population of 55 million, economic growth of 5.3 per cent in 2025 and expanding digital infrastructure made it an attractive destination for investors seeking access to East and Central Africa.
He said the proposed partnership would combine Russian capital, technology and industrial expertise with Kenya’s resources, workforce and access to African markets.
Mr Ruto presented Kenya as a destination for investment and a gateway to East and Central Africa, citing its population of 55 million, gross domestic product of $136 billion (Sh17.67 trillion) and economic growth of 5.3 per cent in 2025.
He also pointed to the performance of the Nairobi Securities Exchange, which delivered returns of 52 per cent in US-dollar terms in 2025, placing it among Africa’s best-performing markets.
The President said the government’s economic transformation programme focused on agriculture, industrialisation, infrastructure development, healthcare and the digital economy.
In the energy sector, he said 93 per cent of Kenya’s electricity was generated from renewable sources, creating opportunities in geothermal development, green hydrogen, electric mobility and energy infrastructure.
Access to wider African market
Ruto said investors establishing businesses in Kenya would gain access to a much larger market through the African Continental Free Trade Area.
The agreement provides access to a continental market of 1.5 billion people, with an economy valued at $3.7 trillion (Sh480.82 trillion), he said, adding that Kenya’s other trade agreements offered preferential access to additional international markets.
“We invite Russian enterprises to establish production facilities, develop industrial partnerships, and use Kenya as a platform for regional and global expansion,” he said.
Ruto’s delegation includes First Lady Rachel Ruto, Prime Cabinet Secretary Musalia Mudavadi, Trade Cabinet Secretary Lee Kinyanjui and Kenya’s Ambassador to Russia Peter Mathuki, among other senior government officials and private business leaders. More than 30 heads of state and government are attending the Summit and Moscow said 48 African governments had sent representatives to the meeting.
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