President William Ruto on Thursday, March 30 announced the establishment of a Sh 67 billion ($500 million) mRNA vaccine facility in Nairobi.
Speaking during the American Chamber of Commerce Regional Summit, held at the Ole Sereni Hotel, Nairobi, Ruto said Kenya and Moderna had finalised the deal to build the facility.
"It is with pleasure that Iannounce a finalised deal between Moderna and the Government of Kenya to build a $500 million mRNA vaccine facility in Nairobi area," said President Ruto.
The Head of State said the project by Moderna will also be their first outside the United States and the only one in the African Continent.
"Moderna’s investment will be a catalyst for the medical and pharmaceutical industry in Africa. This is historic. This is big. This is my administration’s vision for the future of Kenya," President Ruto stated.
At the same time, President Ruto assured investors that Kenya's business environment is stable and conducive for investment.
President Ruto said his administration was committed to transform the economy by creating a business friendly environment.