Construction industry 'attracting investment in Kenya'

25/05/2011 - Kenya property & investment news Posted by Neil King
Construction industry 'attracting investment in Kenya'

The majority of investment in Kenya went into the construction sector in the first quarter of the year.This is according to Susan Kikwai, the managing director of the Kenya Investment Authority.Speaking to East African Business Week, Ms Kikwai said that 60 per cent of investments went into this sector during the first three months of the year.However, over 65 per cent of enquiries were in the services sector, including areas like IT, banking, tourism and consultancy.Ms Kikwai added that the new constitution is giving the country a chance to "retune all the challenging trade and investment policies in the country".She noted that investors have been engaged in discussions in order to decide how best to attract funding to Kenya."We expect to bring in Ksh 571 billion (£28.57 billion) by the year 2012-2013. That is our strategic plan," the investment expert confirmed."This year we are expected to bring in the country Ksh 100 billion. Our ability to market is hinged upon the resources we get."