US$ 5.5bn investment in infrastructure construction in Kenya and geothermal energy in the past five years has wooed a lot of investors into the country making it grow and head to become a commercial centre in Africa; this is according to a survey done by Global markets survey company Frost & Sullivan.
Frost & Sullivan economic consultant Craig Parker said mining, agriculture and retail segments stood to win big as transport costs continued to reduce due to falling crude prices as well as improved road networks.
“Major road construction projects that are currently underway were established to alleviate the severe bottlenecks and traffic congestion in Kenya where an estimated US$ 5m has been dedicated to roads in the past five years,” he said.
More money is yet to be spent on energy and telecommunications this year making the industry to be the biggest winner.
Kenya is expanding highly and is expecting to start exporting oil in 2022. This requires that infrastructure construction in Kenya be top notch.
Frost & Sullivan has clients across the globe that relies on its strategies for the 1,000 emerging businesses, public sector and the investment community.
It is a move that resonates in okther African countries. Realising that power and infrastructure are a prerequisite for development majority of African countries have embarked on massive construction of airports, modern roads and rail transport network.