Kenya woos French investors

Kenya has urged French investors to venture into the Kenyan market and take advantage of many opportunities.

Speaking on Friday when she meet French investors and officials from Medef International in Paris, Foreing Affairs Cabinet Secretary Amina Mohamed said the Kenyan economy offers a wide range of opportunities with high returns.

“The Kenyan economy is strong and the country is on course towards achieving sustainable double-digit growth rate by the 2017,” said Amb Amina. The appeal to French investors to invest is part of an aggressive drive by the government to position Kenya as a preferred destination for investors and as the gateway to Africa for foreign investors.

Gateway to region

Increased investments will generate wealth and employment, critical for growth of the economy.

The CS noted that commercial ties between Kenya and France remain low adding there is room for improvement. “Overall trade between our two countries was worth 213 million Euros by last year. On the other hand, current French investments in Kenya are estimated at about 153 million Euros. Clearly, the level of engagement in trade and investment is low considering the potential that is available,” said the CS.

Mr Dominique Lafont, Chairman of the French Business Council for Eastern and Western Africa said France regards Kenya as the gateway to eastern and central Africa. He revealed that a business delegation will be visiting Kenya early next month.