The UN Economic Commission for Africa (ECA) on Tuesday promised to work with Kenya to tap global pension funds to invest in the country’s housing infrastructure.
Vera Songwe, ECA Executive Secretary, said the ECA was prepared to assist Kenya in developing policy and legislative initiatives that would make it harder for intellectual property abuse, and assist start-up tech companies in growing to their full potential, bringing in jobs and revenue.
“The pension funds would work with Kenyan pension funds to invest in the development initiatives,” she said in Nairobi after holding talks with Kenyatta.
A statement from Kenyatta’s office said the Cameroonian was on her first visit to Kenya in her new role as leader of one of the UN’s regional development agencies.
She lauded Kenyatta’s enhanced fight against corruption and also invited the Kenyan leader to speak at the upcoming African Union summit in Mauritania at an event focusing on the often little-spoken about public servants of great integrity working across the continent.
“Songwe, a Cameroonian, will also join the President’s group of international thinkers, with whom he caucuses from time to time, to caucus focus on critical issues of development in Kenya, the African continent and the globe,” said the presidency.
Speaking during the meeting, Kenyata said his government will work with ECA to protect and grow start-up tech innovations and to unlock pension funds to deploy in developing the country.
“We are really keen, especially on tech start-ups. We have plenty of young people in innovation whose ideas are being stolen and they are not being allowed to grow or get revenues from their innovations,” he said.
“We will work with you to ensure we can protect the innovations and we can see them grow to global companies,” Kenyatta added. Enditem