French Finance Minister Mr. Michel Sapin and Kenyan Cabinet Secretary for Finance Mr. Henry Rotich signed an agreement at State House on 4th February 2017 that will see the return of iconic French automobile brand Peugeot to Kenya. PSA Groupe and its Kenyan partner Urysia will locally assemble passenger vehicles from June 2017.
The President of the Republic of Kenya H.E. Uhuru Kenyatta welcomed this agreement that will create jobs locally and falls within the government’s Buy Kenya Build Kenya policy. During his speech, he noted that manufacturing output grew 3.5% in 2016, signaling the revival of Kenyan industry, and the country’s return to regional dominance.
The President also witnessed the signing of an agreement which will see France finance the construction of Ruiru II Dam that will boost water supply to Nairobi and its environs.
Kenyan President H.E. Uhuru Kenyatta (centre) witnesses the signing of agreements between Kenya and France