•Despite the pandemic, Kenya remains an enduring attraction for investors in many of the world’s leading financial capitals, including London and New York.
•The opportunity is immense, and as a business leader, I would urge all enterprises to take advantage and cast their nets. NSE Chairman Kiprono Kittony speaks during the KNCCI Nairobi county chapter forum on financial and investment inclusion for SMEs/HANDOUT Despite the crippling economic impact of the Covid-19 pandemic, companies and investors are gearing up for a strong economic recovery supported by continued vaccinations, technology, and digitisation.
Recent data indicates that new business registrations at the Attorney General’s office reached a record 101,674 in the year to June, the first time the figure has crossed the 100,000 threshold and 38.7 per cent higher than the 73,302 recorded in June 2020.
This surge in entrepreneurial activity across the country comes at a time when investors are shoring up their assets and building strategic reserves in response to the impact of the pandemic, and in anticipation of the GeneralElection next year (investors typically spend the period before an electioneering cycle building capital).
Fixed deposits in banks hit a record Sh1.59 trillion in June, up more than 50 per cent from around Sh1.1 trillion in the beginning of 2017, according to the Central Bank of Kenya.
Investors have never been better capitalized than they are today.
This is timely given the growing appeal of Kenya as a leading investment destination on the continent.
Despite the pandemic, Kenya remains an enduring attraction for investors in many of the world’s leading financial capitals, including London and New York.
We routinely rank as one of Africa’s most attractive investment destinations in many leading surveys.
The Nairobi Securities Exchange (NSE), which serves a significant number of foreign investors, is currently the best performing bourse in Africa, underlining the strong investor confidence we enjoy on the global stage.
The buildup of capital in our financial system, increasing investor interest from both local and foreign players, and the escalation in entrepreneurial activity indicates that the stars are aligned for Kenya.The current administration has also laid a strong foundation by investing in strategic development projects like infrastructure, which is a key catalyst for sustainable economic development.In the absence of a contentious election in 2022, the economy could take off strongly, ushering in a much-needed renaissance.The opportunity is immense, and as a business leader, I would urge all enterprises to take advantage and cast their nets.As with […]
