India's Richest Man Buys Sh2.9Bln Land in Nairobi

India's richest person Mukesh Ambani has acquired 10 prime land slots in Nairobi worth Sh2.9 billion ($33.9 million), in a move geared at increasing his real estate investment in the capital.

Ambani who was recently ranked 22nd in Forbes' Billionaires list is seeking to use the land for commercial and residential property development through his companies Reliance Industries and Delta Corp East Africa.

Kenya Ranks Fifth in Africa's Top Foreign Direct Investors

Kenya is the fifth largest foreign direct investor in other African countries, this is according to a recently released Ernst & Young survey, '2013 Africa Attractiveness Survey'.

The survey which was based on the number of new projects initiated in the past five years, had India leading with 237 projects South Africa followed with 235, UAE was third with 201, The Republic of China fourth with 152 while Kenya had 113 projects.