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Kenya ranked 7th top investment destination

28 January 2015, 10:18 Cheruo Levi Cheptora

Nairobi - The celebrated Fortune Magazine has ranked Kenya seventh in the emerging markets.

This is the first time the country has been named as one of the seven top investment destinations to watch out for by the magazine.

Key factors considered in the ranking include; macro-economic stability improvement, power sector development and infrastructure enhancement.

Thanks to the Rural Electrification Campaign lauched by the former President, Mwai Kibaki, and the massive construction of roads countrywide; Kenya was bound to make it to the most coveted list.

“We are seeing growing confidence by global investors in our country, something that we are proud of. The reducing cost of doing business and stable macro-economic environment continues to make a clear signal that Kenya is ready to do business with the world and we are delighted that investors are showing increasing confidence in our country,” the Cabinet Secretary for Industrialisation and Enterprise Development, Mr. Adan Mohamed said.

This comes after a wave of insecurity swept through the country, threatening to lower the investor confidence on Kenya.

According to Mohamed, the country is embracing an ambitious programme to make it even much easier and more flexible for business people and investors to do business.

His ministry has since set the ball rolling by effecting phase one of the Business Climate Reform in conjunction with other relevant government stakeholders.

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- MyNews24

Disclaimer: All articles and letters published on MyNews24 have been independently written by members of News24's community. The views of users published on News24 are therefore their own and do not necessarily represent the views of News24. News24 editors also reserve the right to edit or delete any and all comments received.

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