Written By Lisa Murimi
Kenya has been ranked as one of the best investment destinations in Africa, alongside South Africa, Nigeria, and Tunisia, according to the 2024 Deloitte Africa Private Equity Confidence Survey (PECS).
Despite recent economic turmoil, Kenya’s policy reforms and regulatory adjustments have made it the most preferred destination for investors across the continent.
The survey revealed that over the next 12 months, a significant number of investors plan to channel their investments into Kenya, anticipating economic stability.
Deloitte highlighted that Kenya’s recent decision to privatize 26 public institutions will contribute to building a dynamic, private-sector-led economy.
However, Deloitte noted that the success of these privatizations will largely depend on how efficiently the government manages the process.
Recommendations include streamlining regulatory frameworks, simplifying transaction approvals, and enhancing public awareness to optimize investor inflows.
“Private equity’s resilience and knack for pinpointing opportunities are pivotal in bolstering businesses and spearheading economic recovery,” Deloitte stated.
Kevin Kimotho, Deloitte East Africa’s Private Equity Leader, emphasized the significance of this favorable investment climate in shaping East Africa’s economic future.
The report also noted growing optimism among investors, with 62% expecting Kenya’s economy to improve over the next year, a sharp contrast to the more cautious outlook of the previous year.
