A web-based Foreign Direct Investment (FDI) Tracking Tool developed by Kenya Investment Authority (KenInvest) through technical and financial support of Partnership for Investment and Growth in Africa (PIGA), a flagship program of UK Foreign, Commonwealth and Development Office (FCDO) was launched today at the KenInvest offices.
The demand for statistics and public administrative information is increasing, as are the demands to compile accurate, reliable and timely investment statistics for the country. The FDI Tracking Tool will help track investment performance using key verifiable indicators, store information on actual investment inflows, and enable analysis and reporting of investment data in the desired format. It will also play a significant role in helping to improve the management, storage and retrieval of investment information and FDI data, thus assist in the publication of KenInvest’s planned flagship Publication State of Investment Report (SIR).
The expected outputs of the FDI tool include Information on the status of foreign direct investment and domestic direct investment, Source countries of investment, Sector of investment, Contact management, Aftercare analysis, event Management and Knowledge management.
Speaking at the launch, Hon. Dennis Waweru, Chairman, KenInvest said, online platforms continue to revolutionizing the way we do business, the FDI Tracking Tool will improve KenInvest’s capacity to capture quality FDI data, analyze and report it to stakeholders.
Speaking at the launch Dr. Moses Ikiara, MD KenInvest, said this is a great milestone and an achievement to KenInvest in furtherance of its mandate, the Authority registers and creates a database of investments made by both foreign and local investors and provides the same data to stakeholders upon request on aggregation form.
The FDI Tool is a must have for any IPA and government, it becomes a critical marketing tool to filter and target investment opportunities into the country and aids in critical decision making and the Investor aftercare by the IPA, added Ms. Hellen Rintari, the National Coordinator – PIGA Kenya.