Kenya: Keninvest Reveals Ambitious 5-Year Strategic Plan 2023-2027 to Boost Kenya's Investment Climate

28 December 2023
Capital FM (Nairobi)
By Correspondent

Nairobi — Kenya Investment Authority (KenInvest) has unveiled comprehensive measures to enhance investment climate through the launch of its Strategic Plan.

The launch followed the recent publication of a draft investment promotion and facilitation

bill by KenInvest.

The bill is now open for public participation, demonstrating the Government's commitment to creating an enabling environment for investment in the country.

The ambitious Plan aims to enhance Kenya's investment climate and attract more

domestic and foreign investments, further driving economic growth and job creation in

the Country.

With a strong focus on key sectors such as manufacturing, agriculture, technology, and infrastructure development, KenInvest aims to create an enabling environment for businesses to thrive and contribute to Kenya's sustainable development goals.

This ambitious plan will be accomplished through a strategic focus on six Key Result Areas (KRAs): Investment Promotion and Attraction, Integrated Investment Facilitation and Aftercare Services, Research and Policy Advocacy, Transformation of the Investment

Promotion Agency, Strengthening the Legal and Regulatory Framework for Investment

Promotion and Facilitation, and Refinement and Promotion of Bankable Investment

Opportunities.

Speaking during the launch Abubakar Hassan Abubakar, Principal Secretary, Investment

Promotion noted that the Government has generated leader during the year 2023 and

moving into the new year guided by the strategic plan will begin to transition the leads

to deal.

The country aims to stimulate and secure a total investment valued at Sh1 trillion by

2027, spanning various sectors of the economy.

One her part, June Chepkemei, CEO Kenya Investment Authority, said, "The new Strategic Plan leverages the successes achieved in its predecessor, with a dedicated focus on facilitating and attracting new, high-impact investments to stimulate economic growth and foster wealth and employment creation.

Echoing her remarks, Sally Mahihu, Chairperson said, "my gratitude to His Excellency the President for appointing us. We understand the significant potential KenInvest has in creating a lasting impact and fulfilling its mandate.

The Board is fully committed to seizing this opportunity and delivering on our responsibilities.

Anthony Ngororano, UNDP Representative, expressed his delight in seeing how KenInvest has aligned its efforts to strengthen the investment facilitation journey.

Through these initiatives, KenInvest aims to position Kenya as a premier investment destination.

By fostering a favorable investment climate, we seek to attract both domestic and international investors and drive economic growth.

Read the original article on Capital FM.

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