Kenyan-based companies more than doubled investments in foreign countries last year, a new report by a United Nations agency shows, pointing to bigger ambitions to grow their businesses by tapping into high-growth markets abroad.
The UN Conference on Trade and Development (UNCTAD) estimates that outward foreign direct investments (FDIs) by Kenyan companies in 2024 stood at $1.31 billion (about Sh169.36 billion), a jump of 122.79 percent over $588 million (Sh76.02 billion) a year earlier.
