Nairobi businessmen have, in recent years, relocated to Kwale, foregoing the capital city, which has been a hub of opportunities for many years.
Speaking to the media on Sunday, June 3, several Investors stated that they settled on Kwale after discovering how unexplored the area was.
Richard Mwangi, one of the businessmen, explained that most investors stayed behind after visiting the Diani area on vacation.
The entrepreneur mobilised four friends to purchase land and put up homes and entertainment joints.
“We got the land in January 2020 and managed to finance the project. Diani has great opportunities, it is just not about tourism. It is a virgin land for all sectors,” Mwangi noted, adding that renting a hotel room during vacations was more expensive than owning a house or resort.
By 2023, 17 businessmen and close friends already owned villas in Diani.
“My friend is a specialist audiologist, dealing with the elderly with hearing deficiencies. He was running a big firm in Nairobi before moving here, where his clientele frequent.
"He tested the waters by pushing out a small advertisement. The notice attracted a lot of customers who swiftly responded by seeking his services,” one of the investors narrated while highlighting the vast opportunities in the county.
In January and February 2023, Kenya received 293,440 international tourist arrivals, up from 184,228 recorded in the same period in 2022.
Francis Gichaba, the chairperson of the Kenya Tourism Board, projected Kenya to receive 10 million foreign tourists in the next five years to boost businesses at the coast.
The expansion of the Mombasa - Malindi Road is also one of the factors behind the rapid development in the coastal region.
In Kilifi, Governor Gideon Mung'aro added that they were drafting a memorandum of understanding with the investors to promote community empowerment.
He encouraged investors to support residents by setting up hospitals and schools and creating employment.
At the same time, a May 2023, report by United Nations Industrial Development Organisation (UNIDO) praised Kenya for creating an ecosystem that boosted investors’ confidence and the guaranteed success of startups.
