The two countries enhance East Africa's economic sovereignty through the Lamu Refinery and LAPSSET Project.
The two countries are pursuing advanced economic integration based on political stability, economic benefits, security, and human exchange, beyond simple geographical proximity. Ethiopia supported Kenya's independence in 1963 and signed the first joint defense agreement in 1994, sharing a long history of cooperation.
The completion of the Moyale Road modernization project has significantly reduced logistics time between Addis Ababa and Nairobi, contributing to the revitalization of regional trade.
Additionally, Kenya's Safaricom has made large-scale investments in Ethiopia's telecommunications sector, strengthening economic ties between the two countries, and efforts are underway to connect the East African power grid through Ethiopia's clean energy exports.
The Lamu Refinery and LAPSSET Project is a large-scale infrastructure project with a planned investment of $16 billion. This project is expected to have a refining capacity of 700,000 barrels of crude oil per day.
Furthermore, this project is expected to create 60,000 jobs during construction, supply stable fuel to eight East African countries in the future, and significantly contribute to reducing logistics costs.
The success of the African continent relies not only on government efforts but also on the significant contribution of the private sector. The Lamu Refinery will be built through the cooperation of East African countries, including Aliko Dangote of Nigeria.
This establishes a base for Africa's industrialization and economic sovereignty, and Prime Minister Abiy Ahmed actively encourages entrepreneurs to invest within Africa.
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