Why is Kenya ranking as second worst place to invest

[jane_moyo21]

So, Kenya was named second worst country to invest in, and no one is bothering to tell us why, or what parameters were used to name our country second worst to invest in.

Why is Kenya ranking as second worst place to invest in?

 

[bit0]

They want to disrupt us so they can invest here alone. That's the only explanation considering how many foreign business that are thriving and starting here day by day.
But also the frustrations from the gov't(shawty of ivories) could have resulted to that ranking.

 

[Dama]

Nothing like Second worst country to invest in.I challenge you to go read the article again.You Mean,Ukraine,Somali,Mali,Libya ,Afghanistan, Yemen are all fairing better than kenya?.The authors of that Article based their argument on the forthcoming elections.

They said that kenya is facing a seriously contested election hence investors are unwilling to invest in kenya in the meantime. After the elections,Kenya will emerge victorious and investors will come back in droves .Ignore shenanigans.

 

[Alice]

Because our dear president and DP need us to vote for Azimio or KK for hope like the sheep we are. Na tukiskia #Wajackoyahthe5th we run to church to pray believing an innocent plant created by God is the devil. In short punda hajachoka bado.

 

[Jane_k]

Corruption is the main issue. Remember Dangote wanted to set a cement industry in the country and one of the top contenders for the presidency was allegedly asking for 2 billion for facilitation? He somehow agreed but he set shop in a neighbouring country. Try getting a liquor licence and you will understand.

 

[ManzuF]

Well,

First,

You could TELL US, rather than ask.

BUT,

This MATTER/TOPIC is CURRENT.

It has got to do with the last quarter.

And,

If you read the article in the Standard you would have UNDERSTOOD that it is connected to the uncertainty around what might happen before and after the elections.

It is about prospects of near term political stability.

Outside of this narrow view Kenya is among the TOP TEN foreign direct investment destinations in Africa.

 

[JustusWa]

You cant even operate a bank account as a foreigner in Kenya if you don't have a work permit which gives the right to own a pin number. Some foreigners are not in Kenya to work or invest but to live as students or as retired individuals from other countries. I hope when Baba the 5th gets to power he will scrap off this particular practice because haisaidii wakenya pia.

 

[Telekinesis]

Gai na una uliza if our own industries are closing down what do you expect? Pwani closed down and others I dn't want to mention. Political instability. And have you seen how Kenyan shilling is losing strength against dollar???! If you ask me we are going the Sri Lankan way

 

[Samz247]

Over taxation. Cabinet Secretaries asking foreign investors for bribes. Firms already established in Kenya being extorted by politicians close to the president. Over 7 different parties all requiring bribes from small businesses.

NMS, MCSK, NEMA, KRA, Chief, area gang organized by local MP asking for protection and the area police. Na wezi bado usiku wanatarget hapo hapo

 

[King Lawrance]

Kenya has its ownersselking or rather gifting and donating parts to friends and family, the rest is grabbed and complainants maimed. Not forgetting that for you to start a multi-million/billion project, you need to have 2 times your capital of which the other half is to be used as chai for "person of the hand" of the big men in high and low places.

Also, some people want us underdeveloped to get donations for relief funding which they again loot.

I remember a case where an investor wanted to use the water hyacinth in lake victoria specifically Kendubay to make fertilizers and other products, he was told to leave those things to spread and block the shore peacefully because UN and other international bodies pump funds there to do sijui nini. Bwana this is no country.

 

[Harriet]

These guys are the reason

 

[KingKenny]

This is biased report if it exists, I have not seen it myself but I doubt whether it exists....first:
- we have been previously ranked high in ease of doing business especially in digitization of business registration & permits. Those talking about corruption you can actually start a business without visiting govt offices now.
- we have had a steady growth rate as a country contributed by both domestic & foreign investments.
- we have a more stable government than most of our counterparts e.g Burundi, Zimbabwe, Yemen, srilanka, Somalia, Syria, e.t.c
- As much we have a challenge in corruption we still control key trade areas especially in agriculture exports. Human capital e.t.c....our corruption index is much better rated than 26 other African countries including some economic giants.
- we are still the tech hub of the region.
- Taxation : for ITC2 we rank at par with countries like S.Africa, Nigeria, Cameroon, Tanzania, Ethiopia etc. We aren't necessarily hight

 

[AriseNshine]

It's because of corruption....investors are willing to invest but our top most leaders want a share ..they ask for crazy amounts from the investors before they even invest....so sad

 

[jamesjennifer]

So, Kenya was named second worst country to invest in, and no one is bothering to tell us why, or what parameters were used to name our country second worst to invest in.

Why is Kenya ranking as second worst place to invest in?
View attachment 103

It's important to note that a single ranking or report might not provide a comprehensive picture of a country's investment climate. Investors should consider multiple sources of information and conduct thorough research before making investment decisions. Additionally, the situation in a country can change over time, and improvements in governance, infrastructure, and the business environment can lead to more favorable investment conditions in the future.

Here are some possible reasons:

1. Political instability: Kenya has experienced political uncertainty and tension in the past, which might have contributed to the perception of it as an undesirable place for investment. Political instability can make it difficult for businesses to operate and predict the future regulatory environment.
2. Corruption: Kenya has faced corruption issues, which can significantly impact the business environment. High levels of corruption increase the cost of doing business, reduce trust in public institutions, and can deter potential investors.
3. Security concerns: Terrorist attacks and criminal activities have occurred in Kenya in the past, which can contribute to a perception of insecurity for foreign investors.
4. Infrastructure: Inadequate infrastructure, such as unreliable electricity supply, poor road networks, and limited access to clean water, can hinder business operations and increase the cost of doing business.
5. Regulatory environment: A complex and bureaucratic regulatory environment can make it difficult for businesses to establish themselves and operate efficiently in the country.
6. Ease of doing business: Kenya might rank low on the ease of doing business index, which evaluates factors such as starting a business, obtaining permits, and accessing credit. A low ranking could make investors wary of entering the market.