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- Growth attributed to increase in Foreign Direct Investment (FDI), which increased by 11.6 per cent from $8.2 billion at the end of 2020, to $9.2 billion.
- The stock of Other Investment (OI) liabilities increased from $4.9 billion in 2020 to $6.2 billion in 2022. Similarly, Portfolio Investment (PI) rose from $253.4 million to $266.4 million in 2022.
- The OI liabilities accounted for 39.2 per cent of total foreign liabilities in 2022, and were mainly in the form of loans, and currency and deposits.
Kenya’s foreign liabilities
Europe and Africa account for the biggest share of Kenya’s foreign liabilities mainly Foreign Direct Investments (FDIs), an official government report shows, as the country continues to retain its East Africa’s economic power status.
This comes on the back of an increase in the stock of Kenya’s foreign liabilities, which went up by 17.9 per cent from $13.4 billion at the end …