Wiper Patriotic Front leader Kalonzo Musyoka has arrived in London, United Kingdom, for a series of engagements aimed at promoting investment, strengthening economic cooperation and exploring partnerships between Kenya and international investors. Kalonzo, who also leads The Ukombozi Alliance (TUA), is scheduled to deliver a keynote address at Chatham House on Tuesday, October 13, outlining the opposition’s policy priorities as the country prepares for the 2027 General Election. The visit comes as political leaders and parties begin positioning themselves ahead of the next elections, with governance, economic growth and investment expected to remain key issues.
Kalonzo Calls for New Approach to Investment
Upon arriving in London on Monday evening, Kalonzo attended a reception at the House of Commons, where he was the chief guest at an event organised by the Westminster Africa Business Group in partnership with the Eastern Africa Association. The reception was hosted by Gavin Williamson, the Conservative MP for Stone, Great Wyrley and Penkridge, and focused on Kenya’s potential as a regional financial hub and the future of East African capital markets.
Speaking at the event, Kalonzo called for a new approach to financing Kenya’s economic development, urging the country to make better use of domestic resources while continuing to attract foreign investment. He argued that Kenya should leverage its savings, pension funds, financial institutions, private businesses and diaspora remittances to finance development projects and strengthen the regional economy.
According to the Wiper leader, Nairobi has the potential to become a leading financial centre in the region, supported by its banking sector, pension assets and money sent home by Kenyans living abroad. He said these resources could be channelled towards infrastructure development, business expansion and emerging enterprises.
Kalonzo Raises Concerns Over Public Debt
The opposition leader, however, warned that poor governance, wasteful expenditure and inadequate accountability were limiting Kenya’s economic potential. He argued that the country had significant financial resources but lacked systems that could effectively direct its wealth towards improving the lives of citizens.
Kalonzo cited government debt servicing costs as a major concern, noting that the high cost of repaying loans was leaving the government with fewer resources for essential services. He referenced figures indicating that Kenya spent approximately US$13.2 billion (KSh1.7 trillion) servicing debt out of government revenue of US$18.6 billion (KSh2.4 trillion) during the 2024/25 financial year. He maintained that reducing wasteful expenditure and strengthening accountability would help create more room for investment in sectors such as healthcare and education.
Wiper Leader Calls for Transparency in Public Assets
Kalonzo also addressed the management of strategic public assets, saying Kenya should remain open to foreign investment while protecting national interests.
He argued that international investors should be welcomed, provided that investment agreements are transparent, competitive and designed to benefit the public.
The Wiper leader stressed that the debate should not centre on whether foreign companies should invest in Kenya, but rather on how such investments are structured and managed.
He called for greater transparency in procurement and the management of national assets to ensure that investment contributes to sustainable economic growth.
Kalonzo Pushes for East African Financial Integration
The TUA leader also called for stronger economic cooperation among East African Community member states, saying closer integration could unlock new investment opportunities across the region.
He proposed harmonising capital market regulations, enabling more cross-border stock market listings and easing the movement of capital between regional economies.
Kalonzo further advocated for closer cooperation between Kenyan and British financial markets to attract more investment into infrastructure and productive sectors.
Among his proposals was the introduction of an infrastructure bond denominated in Kenyan shillings and accessible to investors in both London and Nairobi.
He also called for mechanisms that would enable Kenyans living abroad to invest their savings in productive projects back home.
According to Kalonzo, these initiatives should help businesses grow, create employment opportunities and strengthen Kenya’s productive capacity without adding unnecessary pressure to public debt.
Kalonzo Seeks Stronger Kenya-UK Partnerships
The Wiper leader said Kenya’s relationship with the United Kingdom should focus on mutually beneficial partnerships rather than dependence on foreign assistance.
He called for cooperation that would allow both countries to benefit from investment opportunities while supporting sustainable development and shared prosperity.
Kalonzo’s London engagements come as the opposition prepares to present its policy alternatives ahead of the August 10, 2027 General Election.
His planned Chatham House address is expected to provide further insight into the opposition’s position on governance, economic management, investment and Kenya’s development priorities.
