News
The 2023 REITs Association of Kenya Annual Conference saw an optimistic outlook for Real Estate Investment Trusts (REITs) as a financial asset class. The Principal Secretary expressed confidence in the potential for REITs to take off as a prominent investment vehicle.
During the event, PS. Abubakar Hassan, the Principal Secretary, emphasized the crucial role played by domestic capital markets in Kenya. He highlighted their significance in mobilizing both local and international resources, underscoring their positive impact on the Kenyan economy.
In pursuit of strengthening our economic diplomacy, exciting times are ahead for the Kenya-Poland investment relationship. Polish - Kenyan Business Forum to showcase Kenya's investment climate, incentives, and investment grade opportunities in our priority value chains. Poland's investment interests are aligned with our BETA key growth pillars with a focus on ICT where we have removed foreign ownership restrictions.
The signing of 3 MOUs aimed at facilitating Polish investments into Kenya.
1. Polish Investment and Trade Agency + Kenya Investment Authority.
In a productive meeting, the Cabinet Secretary, Hon. Rebecca Miano, held discussions with Japan's Ambassador to Kenya, H.E. Okaniwa Ken. This meeting took place in anticipation of the forthcoming Outreach Session of G7 Trade Ministers in Japan, with Kenya being the exclusive African participant. The primary objective of this enhanced collaboration is to establish a more balanced trade environment that fosters mutual benefits for both nations while reinforcing the enduring diplomatic relations between them. #Kenya🇰🇪IsOpenForInvestment
Abubakar Hassan, the PS for Investment Promotion, had the honor of hosting HE President William Ruto for the Kenya-China Investor Roundtable during the 3rd Belt and Road Forum in Beijing. This event successfully convened representatives from more than 50 Chinese companies keen on exploring investment opportunities within Kenya's BETA economic pillars and priority value chains.
Ushering in of the new Cabinet Secretary for Investments, Trade & Industry, Hon. Rebecca Miano, MBS by the outgoing Cabinet Secretary Hon. Moses Kuria.
In a recent development, H.E. the president, William Ruto, made a significant move by lifting the cap on foreign ownership within the ICT sector. This transformative decision has had tangible results, as evidenced by Amazon's recent investment in Kenya. The presence of such a global tech giant in the country serves as a powerful testament to Kenya's open, ready, safe, and business-oriented environment.
In a recent meeting, Abubakar Hassan, the PS of Investment Promotion welcomed a high-level Chinese delegation led by His Excellency Zhang Hu, the Vice Governor of Guangdong. The gathering centered on discussions aimed at exploring how Chinese investors can tap into Kenya's promising investment prospects across various sectors.
On World Habitat Day in Jomvu, Mombasa County, the SDIP Team had the honor of hosting Governor Mombasa Abdulswamad Sheriff Nassir at their stand. During this event, a presentation was made to Governor Nassir, including the Ease of Doing Business report, Business Climate Reforms documentation, and the KenInvest Project Book. This engagement highlights the collaborative efforts to promote business-friendly initiatives and investments in the region.
The discussion between PS Abubakar Hassan and lawyers from ALN Kenya focused on the recent Supreme Court ruling's impact on land titles in Kenya and the challenges faced by foreign investors in land transactions. While the ruling enhanced land title security, foreign investors still encounter issues like bureaucracy, land disputes, and transparency concerns. The Ardhisasa platform, part of NLIMS, has streamlined processes but needs further improvement to accommodate foreign investors' needs.
In 2023, the Nairobi Centre for International Arbitration hosted the Nairobi Arbitration Week, during which Mr. Abubakar Hassan, PS Investment Promotion, highlighted Kenya's remarkable progress in positioning itself as a premier trade and investment hub within both the regional and continental contexts.