Kenya targets higher foreign direct investments

Written By: O'brien Kimani

Kenya targets higher foreign direct investments

Kenya is targeting higher foreign direct investments following the revamping of the investor center.

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The one-stop center shelters nine state organizations to facilitate investors.

Trade Cabinet Secretary Peter Munya says the center will further boost Kenya’s ease of business rating globally.

The center is housed by the Kenya investment authority.

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For close to ten years now Kenya has been eyeing to set up a one-stop information center to provide investors with all investment requirements in the country.

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The idea came into fruition mid-last year following a directive by President Uhuru Kenyatta to expedite the process.

Kenya is following in the footsteps of Rwanda which became the first country in the region to roll-out an investment center.

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Today the government has re-launched the investment center offering investors access to various public services.

The center located at the UAP towers in Nairobi’s Upper Hill area brings together among other agencies the Kenya Revenue Authority, the State Law Office, Kenya Power, Lands office and Nairobi County

CS Munya says the new center will help Kenya hit the one hundred billion shillings foreign direct investment mark.

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Last year Kenya attracted FDIs worth Ksh 69 billion behind leaders Ethiopia, Tanzania, Rwanda and Uganda.

The center is also expected to ease the business environment in Kenya, boosting the country’s ease of doing business ranking by the World Bank.

The 2018 ranking places Kenya at position 61.

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