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  African Business Network 29
along with a stable currency and low in ation rates.
Ahead of Kenya’s second election under the new constitution, due to take place in August 2017, devolution remains to be the biggest gain from the August 2010 constitution.
The transfer of power down to local levels has enabled a new political system, which is inherently more democratic and therefore a boon to national and international investors in the economy.
2015 was a bumper year for FDI  ows into Kenya, with 84 new projects taking o  over the course of the year, a rise of 47% on the previous year, which represented the fastest rise in FDI across Africa and the Middle East.
This was followed by a signi cant fall in FDI during 2016, however the cyclical nature
of Kenya’s FDI  ows throughout its recent history suggests that investment will return in greater numbers next year.
Kenya’s  ourishing telecommunications industry is a leading sector in terms of attracting foreign investment, thanks to the establishment of  bre optics in 2010, while technological innovations in the  nancial services sector have also been instrumental in attaining international  nancing.
Business investment in Kenya’s industries
is set to become even easier in the coming years, as the country accelerates towards its long-term ‘Vision 2030’ objectives of socio- economic advancement.
Under the strategy, Kenya aims to simplify the conditions for gaining business licences and further develop its PPPs, which will serve to strengthen the nation’s position as one of the most attractive destinations for investment across sub-Saharan Africa.

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