Ruto courts Russian investors as Kenya seeks to boost trade, manufacturing

MOSCOW, Russia, Oct 28 — President William Ruto has urged Russian investors to increase their investments in Kenya, citing the country’s economic growth, sizeable domestic market and strategic location as a gateway to East and Central Africa.

Speaking at the Russia-Kenya Business Roundtable Forum in Moscow on Wednesday, Ruto said Kenya’s economic fundamentals and expanding infrastructure offered opportunities for Russian businesses seeking to expand their presence across the continent.

“With a population of 55 million, a GDP of $136 billion (Sh18 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.

He added that Kenya’s economy was supported by a dynamic private sector, sophisticated financial services and expanding infrastructure.

Ruto is in Russia to attend the Third Russia-Africa Economic and Humanitarian Forum, where he is seeking to deepen bilateral economic ties and strengthen cooperation in peace and security.

Ruto seeks to narrow trade imbalance

The President said bilateral trade between Kenya and Russia stood at $380 million (about Sh50 billion) in 2025, arguing that there was considerable room to expand commercial ties.

Kenya exported goods worth $52 million (about Sh7 billion) to Russia, mainly tea, coffee, flowers, fruits and vegetables, while imports from Russia reached approximately $330 million (about Sh42.8 billion), including wheat, fertilisers, iron and steel products.

Ruto said Russian investment in Kenya, estimated at $22 million (about Sh2.8 billion), remained below its potential.

He urged Russian businesses to explore opportunities in mining and mineral beneficiation, transport, heavy engineering, manufacturing, energy and fertiliser production.

“Our objective is to establish enterprises that process local resources, strengthen supply chains, transfer skills and create employment,” he said.

The President said investments in these sectors would support Kenya’s industrialisation priorities by strengthening domestic production, creating jobs and increasing the value derived from locally available resources.

He also called for partnerships based on sovereign equality and local value addition, warning against economic arrangements that leave African countries exporting raw materials without substantial processing.

“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,” he said.

Kenya seeks labour mobility deal with Russia

Ruto also expressed Kenya’s interest in expanding its labour mobility programme to Russia, saying the initiative had enabled 700,000 Kenyans to secure employment overseas.

He said greater cooperation could open up additional opportunities for Kenyan workers.

The President assured prospective investors that Kenya had a strong legal framework for protecting investments and remained committed to creating a conducive business environment.

On the sidelines of the forum, Ruto held talks with Wildberries Chief Executive Officer Robert Mirzoyan, focusing on investment opportunities, particularly in online trading.

Ruto and other African leaders were later hosted by Russian President Vladimir Putin at the Gostiny Dvor Exhibition Centre for an exhibition showcasing solutions in key economic sectors.

The Kenyan 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 officials.