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Kenya Urges South African Investors to Move in and Seize Available Opportunities

Peter Musila 2 years ago

Kenya’s Cabinet Sectretary forForeign Affairs, Amb Monica Juma has asked for investors from South Africa to chip in and tap the lucrative investment opportunities at disposal in the country more so on manufacturing, food security, affordable housing, and universal health care.

The CS made the remarks during the 3rd Kenya Trade and Investment Summit in Johannesburg, South Africa where he had the opportunity to address private investors and the Kenyans in the diaspora.

Principal Secretary of State Department for Transport and Housing, Charles Hinga and his counterpart, the Principal Secretary, State Department for Irrigation, Prof. Fred Segor are some of the government officials who had attended the event.

Principal Secretary of State Department for Transport and Housing, Charles Hinga also asked the investors to come out in numbers and seize the opportunities available in the Kenyan real estate sector.

He added that the government has already worked on critical challenges facing the industry such as the high cost of construction materials, cost of processes and misalignment of policies, procurement challenges, and cost of financing on both demand and supply.

PS Hinga added that the National Housing Development Fund and the Kenya Mortgage Refinancing Company would help investors who would take the projects by giving them cash-bank guarantees.

Hinga said the Senate had passed land value index in respect of compulsory acquisition of land, something which will see the cost of land being addressed with time.

The Government is set to unlock its land to make it available to developers at no cost on condition that the developers build affordable housing on at least 70% of the land set aside for housing.

Ps Hinga also said that Kenya would be receiving 32 BRT buses from South Africa before the end of April.

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