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Kenya ranked sixth most preferred destination by mining investors in Africa

Mining Cabinet Secretary Salim Mvurya addresses the press in Mombasa County on April 2, 2024. (Photo: Farhiya Hussein)

By Mishi Gongo | Sunday, May 19, 2024

Fraser Institute's global annual survey of mining companies for 2023 also placed Kenya at position 46 on the global stage.

Kenya has been ranked sixth in Africa as the most preferred destination by investors for Mining Investment.

Fraser Institute's global annual survey of mining companies for 2023 also placed Kenya at position 46 on the global stage.

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Kenya beat regional mining titans like South Africa, DR Congo, Tanzania, Ghana, Mali and Uganda.

According to the survey, Botswana topped the African countries followed by Morocco, Zambia, Namibia and Ivory Coast.

The survey applied broad-based parameters including a country's Investment Attractiveness, Policy Perception by actors in the mining sector, Best Practices of Mineral Potential, Taxation and availability of skilled labour.

According to Kenya's Ministry of Mining, the positive ranking is due to the new reforms introduced in the sector.

"As the State Department for Mining, our aim is to transform Kenya into the choice destination for mining investment for local, regional and international investors," the ministry said.

"With the far-reaching and wide-ranging reforms they have undertaken to streamline the sector, we are confident that the vision of positioning Kenya as a mining powerhouse in Africa is within our sight."

Earlier this month, Mining PS Elijah Mwangi said they have been working towards taking the ministry to greater heights.

"We have been working tirelessly to ensure that we have the best practices of mineral potential, weed out cartels in the sector and develop favourable policy," he said.

Mining CS Salim Mvurya has urged universities in the country to introduce Mining and Blue Economy courses to ensure that there are skilled personnel to drive the sector.

"Reforms that we have undertaken will catapult Kenya into a desirable mining investment landscape and attract the best mining. Geo survey and ground truthing is an area that requires universities to focus on. We want geologists and marine experts in the fields," he said.