IMF EXPRESSES FRESH CONFIDENCE IN KENYA

 The IMF announced on Saturday that it was going to resume lending to Kenya. It was announced that Kenya would receive loans totalling to about Sh. 19.5 billion ($253 million) over the next three years. About Sh. 2.772 billion will be available immediately. More….

IPS increases investment by Sh2.5 billion
By ISAAC ESIPISU
Daily Nation
Tuesday, November 18, 2003

Industrial Promotion Services (IPS) has announced a capital increase of Sh2.5 billion in its East African investments.

The Aga Khan Fund for Economic Development (AKFED), a member of the overall Aga Khan Development network, and affiliated entities will, upon completion of the investment, hold a majority share capital of 51 per cent.

The International Finance Corporation (IFC) will hold 15 per cent while the German organisation DEG will hold 14.5 per cent, with the remainder going to other institutional and individual investors. more…

The Investment Promotion Centre (IPC) opened a new chapter in its operations with the introduction of extensive Information and Communication Technology (ICT) facilities. The new technology is part of a long-term objective to make the Investment Promotion Centre a world class investment promotion agency within the next three years, as well as a wider government strategy to “Computerize the entire system of investment-related offices including the immigration, customs, security vetting services, lands office, and registrar of companies (among others) to ensure that investors and the Investment Authority have real time access to relevant data and information.”  

IPC’s INVESTMENT CAMPAIGNS BEGIN TO BEAR FRUITS:

Following the Center’s Outreach campaign in promoting Kenya as a premier investment destination in various countries in the last quarter of the year 2002 and the first quarter of 2003, a number of inward delegations have been planned to come to Kenya with a view to exploring investment and trade opportunities. .