2nd Kenya Trade And Investment Summit

Kenya, East Africa’s biggest economy by gross domestic product (GDP), has liberalized its economy to enhance investment and inflows.

Kenya’s cabinet secretary of foreign affairs, Amina Mohamed, expressed hope the decision by the country would achieve desired ambitions.  “I am pleased to inform that Kenya has now fully liberalised its economy by removing all obstacles that previously hampered the free flow of trade and foreign private investment,” he told delegates at the three-day Kenya Investment and Trade Summit held in Cape Town.

Mohammed said the Kenyan government had “painstakingly” undertaken the economic reforms in order to create the necessary environment to attract foreign investment.  “Today, our economic fundamentals are strong, the outlook is positive and the market is friendly and profitable,” said Mohamed.  Among hindrances to investment in Kenya had been the ethnically-charged post-election violence in January-February 2008, which left approximately 1 200 people dead and 600 000 displaced. It caused investors to reassess Kenya’s investment climate.

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