Why Kenya should be the target destination for global investors – US Ambassador Meg Whitman

The United States Ambassador to Kenya, Meg Whitman, has given a rundown of statistics and data that she believes makes Kenya the perfect destination for all global investors.

Ambassador Whitman, who spoke during the opening of the Devolution Conference in Eldoret, Uasin Gishu County, on Wednesday, firstly termed Kenya as the continent’s most stable democracy.

This, she noted, was brought to the fore during the August 2022 General Election – which she termed as the most credible poll ever conducted by the country – and the subsequent peaceful handover of the instruments of power.

She went on to refer to Kenya as the entry point to the East African market, which reportedly serves about 500 million consumers.

According to the US envoy, the country is also the leading logistics, financial, and technology hub.

“Eighty per cent of East African trade passes through Kenya’s Mombasa Port. In addition, Jomo Kenyatta International Airport in Nairobi is the busiest airport in Africa, served by 40 passenger airlines and 25 cargo carriers including FedEx and DHL. Kenya also has some excellent infrastructure such as the Standard Gauge Railway, a series of new roads and modern ports,” she stated.

“Several international banks have been present in Nairobi for decades, and five major global financial institutions - like the World Bank and the IMF – have established their regional headquarters in Nairobi.”

Ms. Whitman added: “The region’s leading stock market sits in Nairobi, and the city hosts the necessary legal, accounting, and consultancy services. Nairobi also has a very vibrant technology community known as Silicon Savannah, and the Kenyan government is committed to establishing Kenya as the premier destination for tech sector investment and innovation in Africa.”

The Ambassador further cited Kenya as the  leading destination for foreign direct investment and venture capital, also crediting it for its young, educated, entrepreneurial, and English-speaking workforce.

She stated that the country generates over 90% of its energy from renewable sources, adding that its largest export market is the United States.