Ruto courts Japanese investors, hails Sh26bn boost to Kenya in 2024

President WIlliam Ruto speaking in Japan/SCREENGRAB

President William Ruto has called on Japanese investors to seize opportunities in Kenya’s growing economy, saying the Asian nation is already among the country’s top foreign direct investment sources.

Addressing the Kenya Investment Forum in Yokohama, Ruto said Japan contributed over $205 million (Sh26 billion) in foreign direct investment in 2024, making it Kenya’s third-largest investor.

“This investment is visible in transformative projects such as the Mombasa Port, the Olkaria Geothermal Plant, and automotive assembly plants,” Ruto told the gathering.

He noted that there are currently 123 Japanese companies operating in Kenya across sectors such as manufacturing, infrastructure, renewable energy, and technology. Japan also remains Kenya’s leading source of vehicles.

Ruto said Kenya’s exports to Japan, which include titanium, copper, tea, and flowers, highlight opportunities for expanded trade.

“Let us work together and translate our aligned priorities into fruitful ventures that transform our economies, create jobs, and lead the way in sustainable development,” he said.

Earlier in the day, Ruto addressed the Yokohama City Assembly, describing the port city as an industrial hub, a magnet for foreign direct investment, and a global centre of commerce and innovation.

“As a smart city, Yokohama demonstrates how research, innovation, and human ingenuity can transform societies and build resilient, future-ready communities,” Ruto said.

He invited Japanese investors to attend the 4th Kenya International Investment Conference scheduled for March 2026 in Nairobi, saying Kenya’s youthful and skilled workforce provides a competitive edge for foreign capital.

Yokohama City Council President Shibuya Takeshi and Mayor Takeharu Yamanaka accompanied him during his engagement