Investments from Germany and Uganda topped the Foreign Direct Investments (FDI) inflows into the country in 2022.
As detailed by the Central Bank of Kenya (CBK) in the 2023 Foreign Investment Survey Report, FDI inflows from Germany were the highest. The investments were estimated to have amounted to Ksh3.6 billion.
On the other hand, investment from Uganda emerged as the second highest at Ksh2.1 billion.
Meanwhile, the investments from the United Kingdom in 2022 were estimated at Ksh1.8 billion.
"In 2022, notable FDI asset inflows were from Germany, Uganda and the United Kingdom at Ksh3.6 billion, Ksh2.1 billion and Ksh1.8 billion, respectively," read the report in part.
Other countries where notable investments were coming to Kenya include Tanzania (Ksh967.9 million), Mauritius (Ksh572.5 million) and the Netherlands (Ksh452.2 million).
Other countries were South Africa (Ksh246.5 million) and Nigeria (Ksh208.6 million).
Conversely, minimal FDIs were witnessed from the Democratic Republic of Congo - DRC (Ksh4.9 million), Finland (Ksh3.9), and the United Arab Emirates (Ksh1.1 million).
On the other hand, there was a notable decline in foreign investment inflows in 2022. This was mostly attributed to several factors including the general election keeps investors in a wait-and-see situation.
The biggest decline in investments was witnessed from Australia. For instance, in 2021, FDI inflows from Australia were at Ksh8.8 billion. However, in 2022, those investments declined to Ksh30 million.
"FDI inflows increased by 20.7 per cent to Ksh121.6 billion in 2021 and decreased by 2.4 per cent to Ksh118.7 billion in 2022.
"A significant increase in FDI asset inflows was observed in Australia and the United Kingdom amounting to Ksh8.8 billion and Ksh5.5 billion in 2021, respectively," read the report in part.
