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Kenya ranked 2nd worst country in the world to invest in

As per a recent International Monetary Fund (IMF) report, Kenya is the second worst country in the world to invest in. As shown in a latest International Monetary Fund evaluation (IMF),

As per the poll, Kenya is only marginally better than Colombia in terms of political insecurity, which deters investors from investing billions of dollars in economic growth.

This is due to the country's political turmoil as it prepares for elections to choose President Uhuru Kenyatta's successor, with Vice President William Ruto and former Prime Minister Raila Odinga leading the race.

According to polls, Mr. Odinga and Dr. Ruto are at odds, and neither is expected to receive the required 50 percent plus one vote in the first round.

According to the World Uncertainty Index (WUI), which evaluates economic and political uncertainty in a variety of nations, economic and political uncertainty in Kenya has grown by 84%.

According to the research, "Research undertaken by WUI to quantify economic and political uncertainty in 143 countries accounting for 99 percent of global GDP revealed that political uncertainty in Kenya is quite high."

Election time is one of the province's most volatile periods, with investors anticipating an outbreak of ethnic unrest, as happened following the 2007 elections.

Another source of concern for investors in the political process was the 2017 general election, in which the presidential results were invalidated by the Supreme Court, necessitating a new election. As a result, some investors were holding back their funds to see what would happen after the elections.

The COVID-19 pandemic, on the other hand, has emerged as a cause of anxiety in the country, with the index climbing to 0.452 in the second quarter as the country documented its first COVID-19 case.

Content created and supplied by: Inner2rend (via Opera News )

Colombia IMF International Monetary Fund William Ruto World Uncertainty Index

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