Deputy President Rigathi Gachagua has encouraged foreign investors to take advantage of Kenya’s current favorable economic climate.
According to the DP, the government has put in place the essential measures safeguarding foreign investments.
“This country is enjoying an administration that is focused and that has done away with bureaucracy and red tape to encourage investment,” he said during the Thursday AviaDev Africa Real Estate workshop.
“All our agencies, our Cabinet Secretaries have clear and unequivocal instructions from the President not to subject investors to unnecessary bureaucracy and red tape.”
He also asserted that the current administration has eliminated bureaucratic practices that had long discouraged potential investors.
He emphasized the fact that many investors choose Kenya because of the country’s long-lasting peace and stability.
The aviation industry is one of the most critical sectors of the national and global economy.
In Africa, the industry faces financial challenges, as most airlines struggle to break even and fly into profitability due to a number of market challenges, especially the cost of fuel… pic.twitter.com/leKFZ5clDA
— H.E. Rigathi Gachagua, EGH (@rigathi) June 15, 2023
“We host the United Nations because of the peace and stability in the country. Labour is not expensive. We have a vibrant workforce with good work ethics. The Kenyan people are workaholics and take pride in their achievements,” he added.
The second-in-command also stated that African airlines should explore alternative sources of revenue or risk going down.
“Airlines will continue to sink further into losses unless they explore innovative alternatives to complement the carrier revenue sources,” the DP said.
AviaDev Africa 2023 is hosted by the Kenya Airports Authority (KAA).
It seeks to grow connectivity in Africa by ensuring sustainable partnerships in the aviation industry.