Commonwealth Secretariat
  1. Home
  2. What's New
  3. Who We Are
  4. What We Do
    1. Democracy
    2. Economics
    3. Education
    4. Gender
    5. Governance
    6. Health
    7. Human Rights
    8. Law
    9. Small States
    10. Sport
    11. Sustainability
    12. Youth
    13. Millennium Development Goals
    14. Funding
  5. News
    1. Events
    2. News Archive Search
    3. Picture Stories
  6. Media Room
    1. Press Archive Search
    2. Media Contacts
    3. CommonwealthTV
    4. Podcast: Pick of the Commonwealth
    5. Events
    6. In the Media
    7. Updates
    8. Downloads
  7. Resources
    1. Documents
    2. Image Library
    3. Libary & Archives
    4. Publications
  8. Publications
  9. Employment
  10. FAQs
    1. Acronyms
  11. Contact Us

British Businesses Urged To Invest In Kenya

18 November 2004

Kenya as an attractive market for foreign investment was the theme of a business round-table meeting organised by the Commonwealth Business Council (CBC) on 11 November 2004 at Marlborough House, London, UK.

The event, attended by more than 100 UK businessmen and women, was addressed by Kenya's Minister for Planning and National Development, Professor Peter Anyang' Nyong'o, Minister for Trade and Industry Dr Mukhisa Kituyi, and Permanent Secretary for Governance and Ethics John Githongo.

The meeting was convened to promote further investment in Kenya by British businesses. According to the UK's Department of Trade and Industry, the country is already the largest foreign investor in Kenya, with investments worth US$1.5 billion.

Dr Kituyi said an Investment Bill was being passed in Kenya's parliament. "We are providing a fast track for investors. The international business community should not miss this opportunity." 

Professor Anyang' Nyong'o stressed that existing investors in his country played a vital role in attracting new international players. He stated: "You are our ambassadors. You are the ones we need to persuade others that we are creating a conducive environment for foreign investment."

Mr Githongo spoke about the Government of Kenya's approach to tackling corruption. He said: "The economic benefits of the fight against corruption can already be seen. These include an increase in revenues, improved tax collection and a decrease in losses from public works.

"It is also evident from the growth in customs receipts, enhanced investor confidence, development of regional and international trade, and the resumption of donor aid."

Organised in collaboration with the Eastern Africa Association, the meeting followed a series of conferences in Kenya with local and international businesspeople. It was part of the CBC's continued efforts to promote interaction between governments and the private sector in Commonwealth African countries.

 

CNIS - the Commonwealth News and Information Service  Issue 210  17 November 2004

Share this page
About this