Ruto Woos Russian Investors to Kenya

Kenyan President William Ruto has urged Russian investors to increase investments in Kenya, citing the country’s economic growth, strategic location and business opportunities across Africa.

Speaking at the Russia-Kenya Business Roundtable Forum in Moscow on Wednesday, Ruto said Kenya’s growing economy and large domestic market make it an attractive investment destination and a gateway to East and Central Africa.

“With a population of 55 million, a GDP of $136 billion (KSh18 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, “Our economy is 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 seeks to strengthen economic ties between the two countries and expand cooperation on peace and security.

He said bilateral trade between Kenya and Russia reached $380 million (KSh50 billion) in 2025, adding that there was significant potential to expand trade through cooperation in several sectors.

Ruto urged Russian investors to explore opportunities in mining and mineral processing, transport, heavy engineering and manufacturing. He stressed the need to establish industries that create jobs and add value to local resources.

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

The president also highlighted the trade imbalance. He said Kenya exported goods worth $52 million (KSh7 billion) to Russia, mainly tea, coffee, flowers, fruits and vegetables. In contrast, Kenya imported goods worth about $330 million (KSh42.8 billion) from Russia, including wheat, fertilisers, iron and steel products.

Ruto said Russian investment in Kenya, estimated at $22 million (KSh2.8 billion), remained significantly below its potential. He urged investors to explore opportunities in energy, mining, fertiliser production, engineering, transport and manufacturing.

He said these sectors aligned with Kenya’s industrialisation priorities and could strengthen local production, create jobs and deepen economic cooperation.

Ruto emphasised that Kenya wanted partnerships based on sovereign equality and value creation rather than dependence on exporting raw materials without substantial local 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.

The president also expressed Kenya’s interest in expanding its labour mobility programme to Russia. He said the initiative had enabled 700,000 Kenyans to secure employment overseas, adding that greater cooperation could create more opportunities for Kenyan workers.

Ruto assured potential investors that Kenya had a strong legal framework to protect their investments, reaffirming the country’s commitment to providing a supportive business environment.

On the sidelines of the forum, Ruto met Robert Mirzoyan, chief executive officer of Russian online retailer Wildberries, to discuss investment opportunities, particularly in online trading.

Later, Ruto and other African leaders attended an exhibition hosted by Russian President Vladimir Putin at the Gostiny Dvor Exhibition Centre in Moscow. The exhibition showcased advanced solutions across key economic sectors.

Ruto was accompanied by 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.