{"id":222994,"date":"2023-05-31T10:49:32","date_gmt":"2023-05-31T02:49:32","guid":{"rendered":"http:\/\/www.namnewsnetwork.org\/?p=222994"},"modified":"2023-05-31T10:49:33","modified_gmt":"2023-05-31T02:49:33","slug":"kenya-urged-to-avail-investment-data-to-become-africas-gateway","status":"publish","type":"post","link":"http:\/\/namnewsnetwork.org\/?p=222994","title":{"rendered":"Kenya urged to avail investment data to become Africa\u2019s gateway"},"content":{"rendered":"\n
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NAIROBI, May 31 (NNN-KBC) — Kenya\u2019s has been challenged to ensure investment data and information is available to investors in order to become competitive as the African Continental Free Trade Area (AfCFTA) gains traction.<\/strong><\/p>\n\n\n\n

During the second day of the 3rd<\/sup> Kenya International Investment Conference (KIICO) being held in Nairobi, Investment Promotion Principle Secretary Abubakar Hassan said Kenya is keen to become a trade and investment hub.<\/p>\n\n\n\n

\u201cWe continue to position Kenya as a competitive investment destination, not an aid destination and not a loan destination,\u201d said Hassan.<\/p>\n\n\n\n

According to Hassan, the government is committed to ensure Kenya is competitive continentally and globally as demonstrated by billions of shillings the country has invested to improve infrastructure that has enhanced connectivity and trade in the region.<\/p>\n\n\n\n

\u201cKenya has a good network of ports, railways, roads, airports and supported by energy mix that is 92% green. Kenya also ranks 2nd in terms of venture capital deals, and is ranked 3rd in Africa in the ease of doing business,\u201d he said.<\/p>\n\n\n\n

Official statistics indicate that Inward Foreign Direct Investment (FDI) declined from Ksh 50.8 billion in 2021 to Ksh 46.4 billion last year as outward FDI declined from Ksh 45 billion to Ksh 5.8 billion over the same period.<\/p>\n\n\n\n

In order to shore up FDIs Kenya is now being challenged to ensure investors get first information on investment opportunities to remain competitive investment gateway in Africa.<\/p>\n\n\n\n

\u201cAs Afreximbank we have recognize that Kenya has the potential to become the gateway and we did this through earmarking quite a significant part of our balance sheet in order to support Kenya from its industrialization strategy,\u201d said Kundakwashe Matereke, Afreximbank Regional Manager.<\/p>\n\n\n\n

According to Equity Group Chief Executive Officer Dr James Mwangi, east Africa\u2019s largest economy is well diversified while its advanced infrastructure and energy mix where 92pc of energy generated is from green sources makes it a frontrunner in attracting global capital.<\/p>\n\n\n\n

\u201cFor us to unlock the African Continental Free Trade Area (AfCFTA), we need massive investments and we need massive markets for exports and Kenya ticks the bill very well when you look at position,\u201d said Dr Mwangi.<\/p>\n\n\n\n

The country is further being challenged to ensure it has investment friendly policies as well as open up the mass market to allow increased private sector participation.<\/p>\n\n\n\n

\u201cIf you go back and you think where you can really make it big. It is not UAE, it\u2019s not Europe, and it\u2019s not US. The potential of making it big is in Africa, whether in mining or agriculture,\u201d added Walid Hareb Al Falahi, Dubai Trade Center Chief Executive Officer. — NNN-KBC<\/p>\n","protected":false},"excerpt":{"rendered":"

NAIROBI, May 31 (NNN-KBC) — Kenya\u2019s has been challenged to ensure investment data and information is available to investors in order to become competitive as the African Continental Free Trade Area (AfCFTA) gains traction. During the second day of the 3rd Kenya International Investment Conference (KIICO) being held in Nairobi, Investment Promotion Principle Secretary Abubakar Hassan […]<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[213],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/222994"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=222994"}],"version-history":[{"count":1,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/222994\/revisions"}],"predecessor-version":[{"id":222997,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/222994\/revisions\/222997"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=222994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=222994"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=222994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}