Tuesday, May 15, 2012

Kenya ranks low in attracting Foreign Direct Investment (FDI)

Kenya ranks third behind its neighbours Uganda and Tanzania in the East African Community. This is according to Stanbic Investment East Africa, which sights high cost of doing business and lack of natural resources as the main reasons.
Kenya’s FDI went down to 22 percent last year, compared to 40 and 36 percent in Uganda and Tanzania. However, Kenya remains optimistic after the adoption of the new constitution and the discovery of oil in Turkana County.

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