Kenya has the largest and advanced economy that continuously grows due to the support of an emerging middle class. Over the years, it has also been identified all over the world as a favorable investment destination.
There are lots of opportunities available starting from agriculture, real estate and the financial sector. According to the Kenya National Bureau of Statistics, the real estate sector has outperformed all other sectors in the recent years giving a return of 25 to 30%.
If you’re still doubtful about investing, below are reasons why you should invest in Kenya now;
The GDP is growing
The Growth Domestic Product refers to the total value of all things produced by the companies and people in a country. It is a value to measure the economy. In Kenya, the GDP value has continuously risen over the years with the lowest value being 4.6%.
Source: Trading Economics
It shows that the country has a great potential since it represents 0.11 percent of the worlds’ economy.
Low-interest rates by lending institutions
In 2015, the Banking Amendment Bill was passed capping the interest rates at no more than 4% above the rate set by the Central Bank of Kenya. This has seen the interest rates fall to about 14 to 14.5%. Predicting the maximum rate of interest is easier and, most importantly, it reduces the cost of production.
Devolution has opened up many marginalized areas. There is an influx of people working for the governments creating a shortage of houses. The housing shortage has brought the need to set up housing units for professionals and residents that work in the county government.
The development of infrastructure starting from healthcare, mining, transport, energy and social protection has been immense. The transport infrastructure, especially, has been upgraded in the last 5 years with $5.14 billion dedicated to it.
The resulting development has contributed to the high cost of property and appreciation of upcoming projects. As long as the property investment is strategically located, capital gains are guaranteed.
The factors above present great opportunities for anyone looking to invest in Kenya. However, make several considerations before deciding on where to invest so as to get value and appreciation.