Article in FDI Magazine February 19, 2008
As the turmoil stemming from Kenya’s election crisis continues, investors are playing a waiting game, reports Harrison Mitchell.
Many investors believe that the underlying strength of Kenya’s economy still makes the country an attractive bet in the long term. However, the country’s reputation as a stable climate for investment in Africa has taken a hit recently, as violence surrounding the disputed presidential elections of December 27 left hundreds of people dead.
The violence has left foreign investors wondering whether they need to reconsider their options. Alongside the loss of life, looting caused the closure of the Convention of Biological Diversity in Nairobi and the closure of the Port of Mombasa. The port acts as the trade hub for all the countries in east Africa and its closure has caused serious disruptions in imports and exports to and from Kenya and surrounding countries.
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