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Kenyan firms double investments in the region on market optimism

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President William Ruto and Ethiopia Prime Minister Abiy Ahmed during the launch of Safaricom Ethiopia. [PCS]

The number of investments that local firms made abroad nearly doubled in 2022, most of which were in neighbouring countries, reflecting local industry's optimism in the expanded East African Community (EAC).

According to the latest official data, Foreign Direct Investments (FDI) made by Kenyan companies in other countries grew 75 per cent to Sh329.2 billion in 2022, compared to Sh187.7 billion in 2021.

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