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From a Great Past to a Greater Future 1
Economic Outlook & Opportunity:
Presentation By:
Julius K. KorirAg. Managing DirectorKenya Investment Authority
THE KENYA DIASPORA CONFERENCE 2012, LONDON
“Role of Diaspora in Increasing Investments”
From a Great Past to a Greater Future 2
Structure of Presentation
Global Picture Benefits of Diaspora Kenya’s commitment to economic development Opportunities for the Diaspora Diaspora engagement in Investment at home Role of KenInvest
From a Great Past to a Greater Future 3
Global Picture
Changing economic fortunes in Developed Economies leading to cyclical economic glooms
Improving systems of communication leading short lead times between developed economies and Developing Economies
Countries are increasingly appreciating the growing importance of Diaspora and their contribution to home country’s economic growth.
From a Great Past to a Greater Future 4
Diaspora…
Over 215 million first generation migrants around the world (about 3% of worlds population or larger than the population of Brazil) – Economist, November 2011
More Chinese living outside China than there are French in France
Over 22 million Indians scattered all over the world
…have become a potent economic force because of globalisation.
From a Great Past to a Greater Future 5
Diaspora Networks Facilitates business across borders Speeds flow of information Facilitate quicker deal making (trust is greater due to
kinship) Knowledge of local culture enhances investment
flows (investments in India, China and Japan pass through Chinese in Diaspora)
Spread ideas (educated in universities in Developed Economies)
Take knowledge, contacts and experience home Spread money (remittances of capital accumulated
in host country) Help companies in their host country operate in their
home country
From a Great Past to a Greater Future 6
Plans and implementati
on
Vision
Strategy
EconomicTo maintain a
sustained economic
growth of 10% p.a. over the next 22 years
SocialA just and
cohesive society enjoying
equitable social development in
a clean and secure
environment
PoliticalAn issue-based, people-centered, result-oriented, and accountable
democratic political system
Overall visionA globally competitive and prosperous nation with a
high quality of life by 2030
…Vision 2030framework for the country’s long term economic, political and social stability
Kenya Government Commitment thro..
From a Great Past to a Greater Future 7
Investment Opportunities in Line with under Vision 2030
The ambitious growth target is to be achieved through careful planning and execution of the identified sectoral programmes and projects in each of the following 6 sectors:1. Agriculture & Livestock: (To increase expected growth at 8% p.a and investment in value-addition)2.Tourism-(Treble earnings thru increased arrivals from 1.6m to 3m by 2012- Key projects: Resort cities)3.Manufacturing-(The sector target is to increase from 5% to 12% by 2012-Key projects: Specialized economic zones)4.ICT and Business Processing Outsourcing-(Not so developed in Kenya-Flagships include: BPO Park and digital villages)5.Financial Sector-(Ksh 250 b to be invested to transform the financial sector-Key target: National Social Security and Pension system, banking and insurance sectors)6.Wholesale and Retail-(Construction of wholesale and retail markets countrywide)
From a Great Past to a Greater Future 8
Investment Options for the Diaspora
Equities Markets Real Estate - Retail and Wholesale Value Adding Processing for Export Technology Transfer Government Bonds
Capital Mobilization Options Personal Savings Borrowings Investment Clubs – Case of Transcentury Partnerships in host Country
From a Great Past to a Greater Future 9
The Kenya Investment Authority
From a Great Past to a Greater Future 10
Who we are
Mandate“Kenya Investment Authority (KenInvest) is to promote and facilitate investments in Kenya for both domestic and foreign investors”
Vision“To make Kenya a country of choice for Investments”
Mission“To attract, facilitate, retain and expand both domestic and international Investments in Kenya through provision of quality services”
From a Great Past to a Greater Future 11
Our Services
Providing Information on Investment opportunities and sources of capital
Promote both locally and internationally the opportunities for investment in Kenya
Advocacy for a conducive Investment climate Facilitate investors in obtaining necessary licenses
and permits Assist investors obtain incentives or exemptions
under various Acts and other regulations
From a Great Past to a Greater Future 12
Summary of Role of KenInvest
From a Great Past to a Greater Future 13
Airport pick-up & fast track service through customs, immigration and quarantine (C.I.Q)
Investor site visits and meetings
Meeting arrangement with high-level government officials and/or companies of interest
13
From a Great Past to a Greater Future 14
Our Contacts
KENYA INVESTMENT AUTHORITYKenya Railways Headquarters, Block D, 4th Floor, Workshop RoadP. O. Box 55704 – 00200 NAIROBIKenya (East Africa)Tel: +254-20-2221401- 4, 722205424, 733601184, 722209902Fax: +254-20-243862Email: [email protected] Website: www.investmentkenya.com
From a Great Past to a Greater Future 15
THANK YOU