President William Ruto has announced PepsiCo has shown interest in setting up operations in Nairobi, Kenya.
Speaking when he met, PepsiCo's Chief Executive Officer for Africa, Middle East and South Asia, Eugene Willemsen in Riyadh, Saudi Arabia, the head of state said he is grateful for the company's interest.
"The firm’s broadening of its portfolio will accelerate the exploitation of irrigation-fed agriculture, thereby expanding economic opportunities for millions of our youth," he said.
He noted the establishment will serve as its investment hub for Africa.
Ruto also said the two leaders discussed approaches to advancing farming in Kenya to increase production.
"We can only grow, prosper and advance when we walk together with other countries across the globe to discover, navigate and expand new frontiers and markets," Ruto said.
During the discussion, Ruto's Economic Advisor David Ndii was also present.
PepsiCo is an American multinational food, snack, and beverage corporation with 23 brands.
The company administers the manufacturing, distribution, and marketing of its products.
Formed in 1965, PepsiCo has since expanded from its namesake product Pepsi Cola to an immensely diversified range of food and beverage brands.
It operates all around the world and its products are distributed across more than 200 countries, and had in January 2021 announced plans to fight global warming, a move to achieve net zero greenhouse gas emissions by 2040.
The company had already started generating about 57 million metric tonnes of greenhouse gas emissions globally in 2019.
The President will later on deliver a keynote address at the 7th edition of the Future Investment Initiative (FII) summit.
The FII Institute is a worldwide nonprofit organization with an investment arm dedicated to making a global impact by fostering cross-border collaboration among exceptional minds.