(Kisumu) – The Kenya National Bureau of Statistics (KNBS) has teamed up with the Kenya Investment Authority (KenIvest) and the Central Bank of Kenya (CBK) to launch the Foreign Investment Survey (FIS) 2024. The survey, running from November 11, 2024, to February 2025, seeks to collect essential data on the economic footprint of foreign investments in Kenya. This data will play a crucial role in guiding the country’s economic planning and policy-making, with a particular focus on attracting and retaining investment.
Benjamin Avusevwa, the Director of Statistical Coordination and Methods at KNBS, explained that the survey will target companies involved with foreign assets and liabilities. Avusevwa added that approximately 48 survey personnel, trained for this purpose, will be interviewing Chief Finance Officers, Finance Directors, and Chief Accountants from over 1,150 companies spanning various sectors across the country.
At a ceremony marking the end of a 10-day training session for research assistants in Kisumu County, Avusevwa emphasized the importance of the survey. He explained that the collected data will help compile key statistics, including the Balance of Payments (BOP) and International Investment Position (IIP), which provide insights into the levels of foreign direct investment (FDI) and national debt. These statistics are essential for understanding the flow of foreign assets and liabilities and ensuring foreign exchange stability.
The 2024 Foreign Investment Survey is the eighth edition of the series and aims to collect data on foreign private capital for the years 2022 and 2023, as well as investor perceptions of Kenya’s business environment. Preliminary findings from the FIS 2023 report revealed a notable increase in foreign liabilities between 2020 and 2022, rising from Sh1.75 trillion to Sh2.06 trillion. This increase, equivalent to 17.9%, was largely attributed to a rise in FDI, which grew by 11.6% during the same period.
Furthermore, the stock of foreign assets in Kenya increased by 13.7%, from Sh452.9 billion in 2021 to Sh514.9 billion in 2022. The report also indicated that Europe and Asia are the leading sources of foreign investment in Kenya, with Europe accounting for the largest share of foreign liabilities in recent years, and investment from Asia growing by 17.6% from 2020 to 2022.