CEOs and other business leaders from Asia, Europe and Kenya have expressed confidence in Kenya becoming a top destination for investors within the African continent if the government addresses a few factors such as over taxation stopping the country from realising its full potential.
Speaking during the CEO Conclave & Investors Dinner held at a Nairobi hotel on Saturday evening, the business persons drawn from various parts of the world urged the government to focus on creating a conducive business environment to boost the economy and create more jobs for the youth.
According to the investors, Kenya had great potential if a few sectors were streamlined. The investors noted that Kenya had the necessary raw materials and highly skilled labour.
They remarked that Kenya is attractive for most investors because its a potent market waiting to be tapped which they cited as enough reason why the government needs to go the extra mile to attract investment.
Australian-based Filipino entrepreneur Rommel Santos CEO of Integrated Laser and Complementary Medicine (ILACM) remarked that Kenya had numerous business and investment opportunities.
"Speaking from an investor point of view, I can see a lot of rising CEOs from here," he stated.
Santos further lauded the current government for identifying the digital sector as the next frontier and implementing measures to ensure that budding talent garners enough skills to work in the digital era.
On the other hand, Dr. Zuraimi Jumaat, the President of Cheon-In Poultry Breeding stated that his company was looking for ways to venture into the Kenyan market.
Jumaat noted that his company would bring the expertise, technology and infrastructure to set up shop in Kenya.
Additionally, David Sweeney an International Franchise Specialist emphasised the need to create a good environment for businesses to expand countrywide and globally.
However, the investors noted that more needs to be done to woo more investors into the country.
Additionally, the investors asked the government to reduce taxation to avoid scaring away potential investors. This, they noted has led to an increase in production.
A statement delivered by an official from the Ministry of Trade on behalf of CS Rebecca Miano assured investors that the government was working to lower the cost of doing business in Kenya.
Additionally, a representative from the Mama Doing Good initiative led by First Lady Rachel Ruto noted that Kenya was a prime investment destination due to its young population and high literacy rate.
This came even as the 2023 African Economic Outlook (AEO) report revealed that investors were fleeing Kenya due to the weakening Shilling.
