Tuesday, May 15, 2012

Oil discovery to speed up Kenya’s new FDI inflows


Workers at the Ngamia-1 oil drilling site in Turkana County. The oil find will  improve Kenya’s FDI position to match neighbours Tanzania and Uganda. Photo/File

Inflows of foreign direct investment (FDI) to Kenya could match those of Tanzania and Uganda beginning next year aided by growth in agriculture and manufacturing besides opportunities created by the discovery of oil in Turkana, analysts at Stanbic Investment Management Services (Sims) have said.

FDI inflows into Kenya are projected to average $1.3 billion (Sh108 billion) annually for the period 2013-2018, placing the country at par with its two regional rivals who have over the years attracted more investors due to their vast natural resources such as gas and oil.
read more: www.businessdailyafrica.com

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