Obama Advises Kenyans on How to Secure Funds From American Billionaires
Former US President Barrack Obama encouraged the Kenyan youth to maximise technological innovations in a bid to secure funding from American investors.
Speaking during the opening of the US – Africa Leaders Summit on Monday, December 12, Obama noted that US investors were taking notice of technological startups that solve global challenges such as climate change and food security.
The former President stated that Americans had invested over Ksh3.6 trillion in such startups.
“Africa’s young people are harnessing new technologies, advancing new solutions to old challenges and influencing global culture like never before and US businesses are taking note.
Kenyan engineer Nelly Cheboi and her mother during the 2022 CNN Heroes of the Year in New York on Sunday, December 11, 2022.
“Over the last five years, US investments have closed over 500 deals. If all of us up our game this will only be the beginning,” he advised.
He also pledged to support more businesses through his Obama foundation.
“When I hosted the Summit in 2014, I made a commitment to invest in the next generation of African leaders and give them the support they need to make their dreams a reality.
“My message to Africa’s young people remains the same. When you succeed, your country succeeds and that creates more opportunities for everyone,” he stated.
Obama, however, expressed that such innovations and investments could only thrive if African governments were committed to creating a conducive business environment for such innovations.
The 44th US president made the statement hours after Kenyan innovator Nelly Cheboi was named CNN person of the year taking home a Ksh74 million reward.
Cheboi was recognised for using technology to empower young Kenyans in rural areas.
The US – Africa summit was officially opened on Monday, December 12 and attended by over 250 business and government delegates from the regions.
President William Ruto is scheduled to attend the summit where he will hold talks with various US government officials and entrepreneurs.
Former Prime Minister Raila Odinga also travelled to the US for the same event.
ODM Leader Raila Odinga addresses the Jumuiya ya Kaunti za Pwani summit held in Tana River County on December 9, 2022.