President William Ruto has called on Russian investors to increase investments in Kenya, citing the country’s economic growth and strategic location as key advantages for businesses seeking opportunities across Africa.
Speaking at the Russia-Kenya Business Roundtable Forum in Moscow, Russia, on Wednesday, the President said Kenya’s growing economy and sizeable domestic market position it as an attractive investment destination and a gateway to East and Central Africa.
“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: “Our economy is supported by a dynamic private sector, sophisticated financial services and expanding infrastructure."
The President is in Russia to attend the Third Russia-Africa Economic and Humanitarian Forum, where he is seeking to deepen Kenya-Russia economic ties and strengthen cooperation in peace and security.
He pointed out that bilateral trade between the two countries stood at $380 million (Sh50 billion) in 2025, saying there was significant potential to expand through increased cooperation in multiple sectors.
President Ruto urged Russian investors to explore opportunities in mining and mineral beneficiation, transport, heavy engineering and manufacturing, emphasising the need to establish industries that create jobs and add value to locally available 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 imbalance in bilateral trade, noting that Kenya exported goods worth $52 million (Sh7 billion) to Russia, mainly tea, coffee, flowers, fruits and vegetables.
In contrast, he said, Kenya's imports from Russia totalled about $330 million (Sh42.8 billion), comprising wheat, fertilisers, iron and steel products.
He said Russian investment in Kenya, estimated at $22 million (Sh2.8 billion), remained significantly below potential, urging investors to take advantage of opportunities in energy, mining, fertiliser production, engineering, transport and manufacturing.
According to President Ruto, these sectors align with Kenya’s industrialisation priorities and offer opportunities to strengthen local production, create employment and deepen economic cooperation.
He emphasised that Kenya seeks partnerships based on sovereign equality and the creation of value rather than dependency or extraction and export of 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 include Russia.
He explained that the initiative had enabled 700,000 Kenyans to secure overseas employment, adding that greater cooperation could open up further opportunities for Kenyan workers.
The President assured potential investors that Kenya had a strong legal framework to support and protect their investments, reinforcing the country’s commitment to creating a conducive business environment.
On the sidelines of the forum, President Ruto also held talks with Mr Robert Mirzoyan, the CEO of Wildberries - a Russian online retailer - to discuss investment opportunities, especially on online trading.
Later, President Ruto and other African leaders were hosted by Russian President Vladmir Putin for an exhibition of advanced solutions in key sectors of the economy at the Gostiny Dvor Exhibition Centre.
Accompanying him during the visit are First Lady Mama Rachel Ruto, Prime Cabinet Secretary Musalia Mudavadi, Trade Cabinet Secretary Lee Kinyanjui and Kenya’s Ambassador to Russia Peter Mathuki, among other officials.
