Nairobi has become the top destination for foreign direct investments (FDIs) in Africa in 2015, exceeding Johannesburg which has held this title since 2010.
A report by investment monitoring platform FDI Markets, shows that FDI flows into Kenya increased by 37% in 2015. The country also attracted more than 12% of FDI inflows into Africa – second to South Africa’s 17.1%, according to a Daily Nation report.
This upward trend is attributed to favourable conditions for doing business in the East African country, where an investor enjoys a 10-year tax holiday upon setting up shop and is allowed to repatriate all profits. Furthermore, Kenya has attracted private equity investors and grants, which are being used to fund public infrastructure projects as well as private projects in real estate, hospitality and industrial development.
