Obama visit to boost investor confidence – CBK Governor

July 27, 2015
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Njoroge highlighted the overbooked hotels during the period President Obama was in Kenya, saying the spill over was bound to positively impact on other sectors of the Kenyan economy/CFM
Njoroge highlighted the overbooked hotels during the period President Obama was in Kenya, saying the spill over was bound to positively impact on other sectors of the Kenyan economy/CFM
NAIROBI, Kenya, Jul 27 – US President Barack Obama’s visit will boost investor confidence, Central Bank Governor Patrick Njoroge has said.

While citing a survey they conducted a month to the visit where the market perception was at an all time low owing to the security challenges the country was facing, Njoroge said this had greatly improved and was expected to rise further.

“The visit has definitely been very positive and will be very good for investor confidence more so in terms of placing a positive bet on the economy that we are moving the right direction, of course there is also some foreign currency that will be coming into the market,” said Njoroge.

He pointed out that the visit would not only attract foreign investors but also local ones who would now want to associate themselves with the ‘hotbed’ of diverse culture investments.

Njoroge highlighted the overbooked hotels during the period President Obama was in Kenya, saying the spill over was bound to positively impact on other sectors of the Kenyan economy.

He lauded Kenyans who marketed the country on social media further urging countries that were yet to lift their travel advisories to suspend them so as to grow the economy.

“We couldn’t have done a better job in terms of advertising the country; the material that was out there on twitter about Kenya was truly amazing. There is a lot of positivity and which is there to stay, and as long this is there, the rest will catch on,” he added.

During an exclusive interview with Capital FM’s Olive Burrows, Obama showcased the country’s holiday destinations by outlining some of the places he would love to visit as part of his ‘bucket list’ when he leaves office next year.

“I know that there areas still places in this beautiful nation that I have not discovered yet so I going have to make sure that I get back and it is not just Kenya, there is an ecosystem that is connected from Uganda to Tanzania. Climbing Kilimanjaro seems like something that should be on my list of things to do once I get out of here,” he said.

READ: Obama tells Capital FM he’d like to visit Mara, climb Kilimanjaro

During the recently ended Global Entrepreneurship Summit, President Uhuru Kenyatta urged the visitors to sample the vibrant culture in Kenya this coming at a time when the wildebeest migration, one of the new Seven Wonders of the World was on course.

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