Kenya is seemingly up against a foreign direct investment (FDI) related dilemma according to the information released by the New York-based Morgan Stanley Capital International (MSCI) Inc.,. For this very reason, the country has come under a watch list. It is now one of all identified markets which supposedly are not conducive to foreign direct investment for various technical reasons.
On this front, Moses Kuria, who happens to be the Trade, Investment, and Industry Cabinet Secretary, spoke to The East African tabloid and duly aired his views on the matter. According to him, the concerned government authorities view this situation with the seriousness it deserves.
However, concerning it, a detailed review of the issue is on the cards, and imminently, with the best forex brokers in Kenya, who are also kept within the loop. He further stated that it has also reached the ears of the President, William Ruto, who has issued strict instructions that the entire scenario related to foreign investments is to be run over with a fine-tooth comb. However, he stated that no stone should be left unturned in unraveling the reasons behind it. Simultaneously, serious action is to be taken to improve the situation in every way possible. In all, this factor is now going to be addressed on a war footing by all concerned authorities.
However, the real serious reason cited by MSCI is that all foreign investors are affected by the extreme dollar shortage in Kenya in the present scenario. They do not take this issue lightly as it greatly hampers all of their activities related to trading. This situation is further aggravated by the decrease in the local currency value. All of this inadvertently directly influences the increase of foreign currency deposits, the consequences of which harm the dollar supply.