Kenya has now emerged as the biggest investor in other countries in a new study released by Ernst & Young which is a financial consulting firm.
According to the study, Kenya came ahead of South Africa for having 36 projects invested in in other African countries with South Africa having invested in 33 projects in the year 2015.
Out of these 36 investment projects, most of them are within the East African Countries like Tanzania, Uganda and Rwanda.
The study also shows that the economy of Kenya globally in terms of foreign direct investment has strongly improved as compared to other years prior to 2015. Kenya is being at position seven in the year 2015 up from position 13 in the year 2014.
For Kenya to beat South Africa in terms of foreign investments is a great projection that the economy of the country is on the right direction despite the escalating cost of living. South Africa, however, was ahead of Kenya in terms of the amount spent on projects. South Africa spent 200 billion shillings while Kenya spent 100 billion shillings.
Some of the Kenyan companies that have ventured out of the country are the Kenyan banks. Kenyan banks have spread as far as the Democratic Republic of Congo, DRC as well as the ailing economy of South Sudan.
The cost of living in Kenya, however, is high. The inflation has increased and most Kenyans, especially the low income earners are feeling the heat. Early this month, Energy Regulatory Commission raised the prices of fuel by up to 13 percent setting the prices of other goods upwards.
Off the Cuff
The education sector in Kenya is in a set of confusion as students in secondary school embark on a spree of burning their schools. More than 100 hundred schools have been burned in a period of two months with eight of them burning in the last 24 hours.