Deputy President Rigathi Gachagua has encouraged foreign investors to invest in the country because of the conducive environment the government has developed since taking office.
Speaking when he addressed the AviaDev Africa Real Estate Workshop in Nairobi on Thursday, Gachagua said the Kenya Kwanza Administration has made it easier for investors to put in their money in the nation’s economy.
He said they have focused on doing away with bureaucratic tendencies that have for years frustrated potential investors.
“This country is enjoying an administration that’s focused and that has done away with bureaucracy and red tape to encourage investment. All our agencies, our Cabinet Secretaries have clear and unequivocal instructions from the President not to subject investors to unnecessary bureaucracy and red tape,” said Gachagua.
The DP noted that Kenya is the destination of choice for many investors, emphasizing the country’s lasting peace and stability.
“We host the United Nations because of the peace and stability in the country. Labour is not expensive. We have a vibrant workforce with good work ethics. The Kenyan people are workaholics and take pride in their achievements,” added the Deputy President.
With the ongoing debate on affordable housing and how best to achieve it, Gachagua challenged the participants to take more interest in the government’s plan to let more Kenyans own decent homes as it was a good investment opportunity.
“The future in Kenya is urban but we don’t have enough houses so the market is huge. Look around and invest in this sector,” he said.
The Deputy President also challenged the leading airlines in Africa to diversify their sources of revenue so they can fly above the turbulence facing the sector owing to rising cost of fuel and other challenges.
“Airlines will continue to sink further into losses, unless they explore innovative alternatives to complement the carrier revenue sources. One of such ways is investing in the real estate sector,” the DP said.
