President William Ruto embarked on a significant diplomatic mission to the United Arab Emirates (UAE) on Monday evening to attend the Abu Dhabi Sustainability Week (ADSW) Summit. The summit, a leading global platform for advancing sustainability initiatives, provides a venue for world leaders to explore actionable solutions for the global energy transition.

Kenya’s Leadership in Renewable Energy

During the summit’s opening session, themed “Exploring the Global Energy Transition,” President Ruto is set to highlight Kenya’s achievements in renewable energy. Kenya is internationally recognized as a leader in this field, particularly for its advancements in geothermal energy, which accounts for over 50% of the country’s electricity generation.

In his address, the President will emphasize:

• Geothermal Power Development: Kenya boasts one of the largest geothermal energy installations in Africa, primarily concentrated in the Olkaria fields in the Rift Valley. The country has a geothermal capacity of over 950 MW and aims to expand it to 5,000 MW by 2030.
• Renewable Energy Transition: Nearly 90% of Kenya’s electricity comes from renewable sources, including hydro, wind, and solar. This places Kenya among the top countries globally in terms of clean energy generation.
• Energy Partnerships: President Ruto will call for strengthened global partnerships to tackle energy challenges, scale green investments, and accelerate global decarbonization efforts.

Key Bilateral Discussions

Apart from the summit, President Ruto’s visit includes high-level bilateral talks with global leaders, including:

1. His Highness Sheikh Mohamed bin Zayed Al Nahyan: Discussions with the UAE President will focus on deepening bilateral ties in energy, trade, and infrastructure development.
2. Malaysian Prime Minister Anwar Ibrahim: Talks will revolve around technology transfer, investment opportunities, and enhancing cooperation in key sectors such as education and manufacturing.

Kenya-UAE Economic Ties

A highlight of the visit is the anticipated signing of a Comprehensive Economic Partnership Agreement (CEPA) between Kenya and the UAE. This agreement aims to bolster trade, investment, and development cooperation between the two nations.

UAE as a Key Trade Partner

• The UAE is Kenya’s sixth-largest export destination, importing key products such as tea, meat, fruits, vegetables, and flowers.
• Trade between the two countries has grown steadily, with Kenya recording over $600 million in exports to the UAE annually.

Benefits of the Agreement

The CEPA is expected to:

• Simplify export procedures, reducing red tape for Kenyan exporters.
• Enhance market access for Kenyan products and services, particularly in agriculture, technology, and tourism.
• Attract UAE investments into Kenya’s priority sectors, including renewable energy, real estate, and manufacturing.

Kenya’s Vision for Economic Transformation

President Ruto’s participation in the summit and bilateral engagements align with Kenya’s Bottom-Up Economic Transformation Agenda. The strategy prioritizes:

• Energy Development: Scaling up renewable energy projects to power industrialization and rural electrification.
• Trade and Investment: Expanding Kenya’s export markets and attracting foreign direct investment to boost economic growth.
• Technology and Innovation: Leveraging technology to modernize agriculture, improve governance, and create jobs.

Strengthening Regional and Global Leadership

Kenya’s active role in global sustainability discussions reflects its growing influence on the international stage. The country’s leadership in renewable energy positions it as a model for sustainable development in Africa and beyond.

Advancing Africa’s Agenda

President Ruto’s presence at the ADSW Summit underscores Kenya’s commitment to championing African interests in global forums. Key priorities include:

• Climate Finance: Advocating for increased funding for climate adaptation and mitigation projects in Africa.
• Green Technology Transfer: Promoting the adoption of clean technologies across the continent.
• Energy Equity: Ensuring affordable and reliable energy access for all Africans.

Global Energy Transition Goals

The summit provides an opportunity for Kenya to contribute to shaping the global energy transition agenda. By sharing its experiences and best practices, Kenya can inspire other nations to adopt sustainable energy policies and accelerate their transition to a low-carbon future.

Looking Ahead

President Ruto’s visit to the UAE marks another milestone in Kenya’s quest for economic and environmental sustainability. The outcomes of the summit and bilateral discussions are expected to strengthen Kenya’s position as a global leader in renewable energy and a key player in shaping the future of sustainable development.

As the world grapples with the twin challenges of climate change and energy security, Kenya’s success story serves as a beacon of hope and a call to action for nations to work together towards a cleaner, greener, and more inclusive future.

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photo source: Google

By: Montel Kamau

Serrari Financial Analyst

14^th January, 2024