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Kenya has emerged as a top destination for mining investment in Africa, securing the sixth spot on the continent according to the Fraser Institute’s global Annual Survey of Mining Companies for 2023.
On the global stage, Kenya was ranked 46th, marking a significant achievement in the competitive mining investment landscape.
This prestigious survey saw Kenya surpass regional mining giants such as South Africa, the Democratic Republic of Congo (DRC), Tanzania, Ghana, Mali, and Uganda.
The 2023 ranking is particularly noteworthy as it marks Kenya’s return to the survey after a five-year hiatus, underscoring the country’s impressive strides in the sector.
The Fraser Institute’s survey employed a comprehensive set of parameters, assessing countries based on their investment attractiveness, policy perception among mining sector stakeholders, and adherence to best practices in mineral potential.
Kenya’s strong performance in these areas highlights the effectiveness of recent reforms and the growing confidence of investors in the country’s mining sector.
The State Department for Mining has expressed its commitment to transforming Kenya into the premier destination for mining investment, catering to local, regional, and international investors. Through extensive and far-reaching reforms aimed at streamlining the sector, Kenya is positioning itself as a mining powerhouse in Africa.
“We are confident that the vision of positioning Kenya as a mining powerhouse in Africa is within our sight,” stated a spokesperson for the State Department for Mining. “With the far-reaching and wide-ranging reforms we 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.”
As Kenya continues to enhance its mining sector, the country is set to attract even more investment, driving economic growth and development in the years to come