EY Africa ‘Leaders in Conversation’ Series – Dr Moses Ikiara: Managing Director of the Kenyan Investment Authority

Sandile Hlophe, EY Africa’s Government and Infrastructure Leader discusses foreign direct investment into Africa with Dr Moses Ikiara, Managing Director of the Kenyan Investment Authority.

Africa remains an attractive investment destination, but requires enhanced economic reforms, good governance and a stable political landscape to continue attracting FDI. EY Africa Government and Infrastructure Leader, Sandile Hlophe is joined by Dr Moses Ikiara, Managing Director of the Kenyan Investment Authority to talk about FDI into Africa with a closer look at the resilience of East Africa.

Africa suffered a 50% drop in FDI last year however the core factors behind its investment appeal remain intact. Africa’s FDI 50% reduction in 2020, made it the hardest-hit region globally, trailing all other regions i.e. Europe (–23%) and North America (–19%). Only Asia-Pacific’s decline was close (–43%).

In 2020, Africa’s overall GDP contracted by 2.4% compared with the 3.6% contraction in overall global GDP. East Africa was the fastest growing region on the continent.

In discussion

• The indicators of economic recovery.
• Kenyan government’s corporate tax policy/approach.
• Domestic industry shift amidst the supply chain interruptions due to COVID-19.
• AfCTA implications for Africa’ market development.

Dr Ikiara has a PhD in Natural Resource and Environmental Economics, M.A. in Economics and BSc in Agriculture. He has an esteemed career in policy research into the agriculture, forestry, fisheries, wildlife management, and tourism sectors, as well as other areas of economic policy development and research namely solid waste management, employment policy, trade in services and in environmental goods and services, multilateral trade issues particularly with respect to agriculture and services, technology and foreign direct investment, and regional integration.

The mandate of KenInvest is to promote investments in Kenya from domestic and foreign investors, facilitate investors who have decided to invest in the country, provide after care services to investors once they have already established themselves, and to advocate for policies that promote investments.