NAIROBI, KENYA: Cabinet Secretary Amb. Amina Mohamed has encouraged American investors to invest in Kenya and take advantage of a vibrant economy that promises good returns.
Speaking during the ‘Doing Business in Kenya Forum’ at the Intercontinental Willard, Washington D.C, the Cabinet Secretary assured investors that Kenya is conducive for investments and has continued to be rated favorably by various International Rating Agencies based on the strong reforms that the Government has implemented.
The Cabinet Secretary cited the recently-released Global Competitiveness Report 2013/14, which rated Kenya among the top 100 most competitive countries in the world, having made the most improvement in Africa.
The Cabinet Secretary also cited last year’s World Bank’s annual Country Policy and Institution Assessment Programme that “rated Kenya the best country in Sub Saharan Africa in terms of institutional quality and policy making reforms for poverty - reducing growth.”
The CS assured investors that Kenya’s economy remains resilient as demonstrated by the expansion of overall economic activity by 4.7 percent in 2013, adding that the economy is projected to grow by 5.8 percent and 6.4 percent in 2014 and 2015, respectively.
The Cabinet Secretary attributed this growth to far reaching structural reforms the Government has implemented as well as sound economic management.
“I want to assure you that the economic growth prospects remain very strong due to continued implementation of bold economic policies, governance and structural reforms as well as new constitutional dispensation,” said Amb. Mohamed.
The CS applauded the continued engagement of the American private sector to Kenya noting that “the recently concluded Eurobond issue by Kenya which was oversubscribed by 500 per cent was 66 per cent subscribed by US investors.”
CS Amina further said Kenya is keen to expand and upgrade infrastructure in order to deliver the required efficiency in terms of time and cost to facilitate trade and investment.
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