![Michelle Kathryn Essomé](https://www.businessdailyafrica.com/image/view/-/5052012/medRes/2299083/-/maxw/960/-/w22v7yz/-/avca.jpg)
Cash-starved infrastructure projects in President Uhuru
Kenyatta’s four priority sectors in his last term are set to get a boost
from foreign and domestic private equity firms, which are lining up
bets worth hundreds of millions of dollars.
The deals
are expected to be signed at the 16th annual conference organised by the
African Private Equity and Venture Capital Association (AVCA) — a group
that promotes private investment in Africa. The two-day event starts
today in Nairobi.
“We are seeing a lot of bankable
opportunities,” said AVCA’s chief executive officer, Michelle Kathryn
Essomé at a media briefing ahead of the conference.
Kenya
has often been tipped to remain a hotspot for private equity (PE) with
global deal makers expected to be attracted by an improved business
environment.
The country was ranked the third most
attractive African market last year, indicating the huge promise despite
multiple challenges arising from a recent pile-up of public debt.
The
report said Kenya’s top ranking has benefited from recent government’s
action to make the country a viable and competitive technology hub
through formulation of policies to drive the initiative.
Speaking
ahead of the event, Centum Investment CEO James Mworia, said the most
attractive projects line-up for investment include in sectors such as
affordable housing, healthcare, food security and education among
others. Centum is among local firms eyeing deals with global firms
attending the conference.
President Kenyatta’s Big Four
agenda aims to boost economic growth through spending, improving food
security and rolling out universal healthcare, supporting manufacturing
and building affordable housing.
“We have good ideas but we are facing a challenge of investable opportunities,” said Mr Mworia.
The
event will convene some 500 African and international participants
representing $1.5 trillion (about Sh12 trillion) in assets under
management.
No comments :
Post a Comment