Kenya’s Cabinet Secretary for Foreign Affairs Amb Monica Juma has called on South-Africa to tap into the lucrative investments opportunities that exist in Kenya especially in food security, manufacturing, universal health care and affordable housing.
The CS was speaking with private investors and the Kenyan diaspora at the 3rd Kenya Trade and Investment Summit in Johannesburg, South Africa. The event was also attended by Principal Secretary of State Department for Transport and Housing, Charles Hinga and his counterpart, the Principal Secretary, State Department for Irrigation, Prof. Fred Segor
Principal Secretary of State Department for Transport and Housing, Charles Hinga urged the investors from South Africa to take seize the opportunities being presented in housing sector in Kenya adding that the Government of Kenya had addressed all the impediments and challenges such as the high cost of construction materials, cost of processes and misalignment of policies, procurement challenges, and cost of financing on both demand and supply.
PS Hinga also assured the investors that Kenya Mortgage Refinancing Company and the National Housing Development Fund would now provide cash-bank guarantees to investors who take up the projects.
Regarding the high cost of land Hinga said the Senate had passed land value index in respect of compulsory acquisition of land.
The Government will also unlock its land to make it available to developers at no cost on condition that the developers build affordable housing on at least 70% of the land set aside for housing.
During the Summit, Hinga said the first batch of 32 BRT buses procured from South Africa would be delivered by end of the Month of April 2019.