Kenya looking to attract foreign and domestic investment

4 March 2011

Kenya is hoping to attract 160 billion Kenyan shillings (£1.17 billion) in foreign and domestic investment.

It hopes to get the sum of money during the fiscal year, which runs from July to June, with Reuters reporting it already has 52 billion Kenyan shillings from the first six months of this period.

The country is looking to improve transport infrastructure in the country's capital Nairobi with a commuter rail scheme.

Susan Kikwai, the managing director of Kenya Investment Authority, said: "We are still going to raise a bond of about $200 million (£123 million) for the commuter rail project."

She added they are also looking to attract external investors for the development.

The specialist remarked the nation needs 200 billion shillings every year if it wants to be able to expand the economy by ten per cent.

Kenya recently received a $300 million injection of cash from the World Bank to go towards transport programmes.
 

Category: Transport