What Mutua told American investors to woo them to Kenya

Foreign Affairs Cabinet Secretary Alfred Mutua while at the United States of America gave investors reasons they should see Kenya as a potential business hub.

The CS was speaking on Wednesday during the inaugural Kenya-US Business Roadshow at the Harvard Club in New York.

The Kenya-US Business Roadshow was curated by US Ambassador to Kenya Meg Whitman.

Mutua said the roadshow attracted a wide array of American investors who were eager to understand why they should invest in Kenya.

Among the reasons Mutua gave investors to woo them was Kenya's political stability. 

"Over time, Kenya has become the most stable democracy in East Africa with exemplary regard to the rule of law and peaceful transition of political power," Mutua said. 

He termed Kenya as unique as it is the only African country privileged to have a Kenya-US Dialogue, an endorsement by the US government. 

Mutua also spoke of Kenya's market potential. 

The CS said Kenya’s economy is the largest and most diversified in East Africa.

"Given her strategic location, Kenya is the gateway to East and Central Africa, a market of over 500 million consumers. Investors can, through Kenya, take advantage of the enormous market of 1.3 billion people under the AfCTA to expand their businesses," he said. 

Additionally, Mutua SAID Kenya has an enviable infrastructure of roads, railways, air, and sea transportation that connect Kenya with the East African countries.

That Kenya is open and ready for business due to the available infrastructure. 

Mutua said the country also has an adequate labor force. 

"Kenya boasts of a youthful, highly educated, energetic, loyal and innovative labor force that can be leveraged at once to perform, in a 'plug and play' fashion," he said. 

Mutua urged investors to dive into five priority pillars, namely agri- industrial productivity and food security, universal healthcare, digital superhighway, micro, small and medium-sized enterprises, and affordable housing.

He said Kenya's economy amalgamates the two key ingredients of a resilient economy which are supply chain diversification and net-zero emissions.

"Kenya has a wide range of value chains for investment," he said. 

In terms of energy supply, Mutua said Kenya is powered by renewable energy at the rate of 93 per cent. 

"And with the green hydrogen project, she is poised for 100 per cent green energy by 2030, thus heeding the global call to curtail global warming," he said. 

On ease of doing business, Mutua said the government has ensured a business can be registered within 48 hours.

He added that the government is committed to instituting a simple, fair, consistent, and predictable tax regime by June this year in order to incentivize business people.

Mutua noted that many American companies already have bases set up in Kenya adding that the companies relish Kenya’s peerless culture and hospitality.

"Kenya is home to a wide range of American companies including Coca-Cola, IBM, Google, Uber, Oracle, Wrigley among many others with many iconic brands like Levi, Calvin Klein, Lee, and Wrangler sourcing products," he said.

He also encouraged investors to flock to Magical Kenya and invest in the hospitality industry.