Kenya declares investment target for fiscal year

07/03/2011 - Kenya property & investment news Posted by Bob Brunskill
Kenya declares investment target for fiscal year

Kenya attracted 52 billion shillings in both foreign and domestic investment in the first half of this fiscal year, according to the country's investment authority, Reuters reports.

The African state has also targeted 160 billion shillings for the period.

Kenya confirmed investments totalling 156 billion shillings in the 2009-10 fiscal year from 164 billion in the previous period.

"I believe with the investment environment improving, we are going to get the target of 160 (billion)," remarked Susan Kikwai, managing director of Kenya Investment Authority.

Optimism climbed notably in 2010 after a new constitution - which is expected to reduce risk of upheavals - was enacted in August.

"We are taking time to visit investors in Kenya and telling them, 'please put in more money, expand.'" Ms Kikwai said.

She added that Kenya needed 200 billion shillings invested each year for the economy to expand by ten per cent.ADNFCR-2019-ID-800447206-ADNFCR