Kenya lost over $345 million worth of foreign direct investment (FDI) in the period Jan 2023- March 2023 as economic growth plummeted over increased political noise and unfriendly policies.
The latest CBK data shows that the country’s net financial account inflows dropped by 34% to $660 million in the first quarter of this year, compared with net inflows of $1 billion in the same period in 2022.
Foreign investors, on the other hand, have voiced concerns over a dollar shortage in the country, difficulties in accessing short-term loans to shore up their working capitals, restrictions on capital repatriation and the high cost of doing business.
The latest CBK data shows that the country’s net financial account inflows dropped by 34% to $660 million in the first quarter of this year, compared with net inflows of $1 billion in the same period in 2022.
Foreign investors, on the other hand, have voiced concerns over a dollar shortage in the country, difficulties in accessing short-term loans to shore up their working capitals, restrictions on capital repatriation and the high cost of doing business.
