Kenya has secured a KSh22.1 billion financial facility from Japan to expand its vehicle manufacturing sector, with backing from Japan’s Nippon Export and Investment Insurance, NEXI.
President William Ruto said the agreement was signed at State House Nairobi between the Government of Kenya and NEXI CEO Atsuo Kuroda. He witnessed the signing.
Ruto described the deal as a “milestone” and direct result of his State Visit to Japan in 2024 and Kenya’s participation in the Tokyo International Conference on African Development, TICAD, in 2025.
The President said Kenya will leverage Japan’s capital, technology, and “decades of industrial excellence” to grow local vehicle assembly and put more Kenyan-made cars on local roads.
“This milestone is a direct outcome of our State Visit to Japan in 2024 and our participation in TICAD 2025,” Ruto posted on Facebook on Monday, June 22, 2026.
He added that as Kenya diversifies financing sources, it remains committed to partnerships with nations that engage as equals, “founded on mutual respect and shared prosperity.”
The facility is expected to accelerate growth in Kenya’s vehicle sector, which the government has prioritized under its industrialization agenda. Local assembly plants currently produce models for both domestic use and regional export.
NEXI, Japan’s official export credit agency, provides insurance and financing to support Japanese companies investing abroad.
The deal adds to Japan’s growing footprint in Kenya’s manufacturing space. Japan has previously supported infrastructure and technology transfer projects in the country through JICA and private investment.
