Home ECONOMY Lucrative Opportunities for Kenyans in UN Projects

Lucrative Opportunities for Kenyans in UN Projects

by biasharadigest

OPPORTUNITY 2030

The Standard Chartered SDG Investment Map reveals $9.668 trillion opportunity for private-sector investors across all emerging markets to help achieve the UN’s Sustainable Development Goals (SDGs). Of this, Kenya represents $40 billion (Ksh4 trillion).

The study identifies opportunities for the
private sector to contribute to three infrastructure-focused goals between now
and 2030. They include SDG 6 – Clean Water and Sanitation, SDG 7 – Affordable
and Clean Energy and SDG 9 – Industry, Innovation and Infrastructure across
emerging markets.

High-powered projects

The opportunity for the private sector to
improve the lives of Kenyans is substantial. Currently, 56% of Kenyans lack
access to clean water and sanitation, while 36% have no access to electricity. Meanwhile,
the country’s digital access rate – a combination of mobile phone subscription
rates and internet connectivity – stands at 34%. 

The greatest opportunity in Kenya is found in achieving and maintaining universal access to electricity (a key SDG 7 indicator), representing $15.6 billion (Ksh1.5 trillion) private-sector opportunity. This takes into account the proportion of the Kenyan population currently without electricity access, projected population growth, and the growing demand for power as the economy develops.

The greatest opportunity in Kenya is found in achieving and maintaining universal access to electricity. [ Photo / Bloomberg ]

For SDG 9, which encourages improvement in
industry, innovation and infrastructure, Opportunity2030 highlights
private-sector investment opportunities in transport and improving digital
access.

Securing full digital adoption in Kenya –
measured by a combination of mobile phone subscription rates and internet
connectivity levels – would require private-sector investment of around USD13
billion. To significantly improve Kenya’s transport infrastructure by 2030
indicates a USD9.1 billion investment opportunity for the private sector.

The opportunity in the water sector is smaller but still significant. Around 56% of Kenya’s population still does not have access to clean water and sanitation facilities and closing this gap by 2030 will require significant investment, with an opportunity for the private sector to provide around $2.3 billion (Ksh230 billion) of the funding.

Mr Kariuki Ngari, CEO & MD at Standard Chartered said the UN Sustainable Development Goals are amongst the most ambitious projects ever attempted. “For the goals to be met, the private sector must play a central role in deploying capital to get projects off the ground,” Mr Ngari said.

WITH 56% OF KENYANS LACKING ACCESS TO CLEAN WATER AND SANITATION, THERE IS A SIGNIFICANT OPPORTUNITY FOR THE PRIVATE SECTOR TO HELP ACHIEVE SDG 6.

 With one of the fastest-growing economies in Sub-Saharan Africa, Kenya is a promising country for investment, he said, noting that the government is committed to the SDGs with several major infrastructure projects already underway. 

Opportunity2030 provides an
important map of the SDG opportunities for private sector investors looking to
invest with impact and improve the lives of millions of Kenyans over the next
decade,” Mr Ngari said.

Opportunity2030:
Investment opportunity in achieving SDGs in Kenya, by sector indicator

  SDG 6: Clean Water and Sanitation SDG 7: Affordable and Clean Energy SDG 9: Industry, Innovation and Infrastructure  
Sector Water and sanitation Power Transport Digital access
Current performance 44% access to clean water and sanitation 64% access to electricity Logistics Performance Index (LPI)
infrastructure score of 2.55
34% digital access
 
Target by 2030 100% access to clean water and sanitation 100% access to electricity LPI infrastructure score of 2.94 100% digital access
 
Total investment required to 2030 USD22.8bn USD34.7bn USD26.0bn USD21.7bn
Potential private-sector investment
opportunity to 2030
USD2.3bn USD15.6bn USD9.1bn USD13.0bn

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