Kenya, Tanzania and Uganda attracted over $13.3 billion worth of foreign direct investment (FDI) in 2022, helping them create thousands of new jobs.

The latest investment report by business advisory firm Ernst & Young shows that Uganda recorded a high of $10.2 billion — the highest in East Africa — creating 6,300 jobs.

Investment inflows into Kenya increased by 117 percent year-on-year, bringing in $2 billion in capital investment and generating 7,819 jobs, with most of the investment going into the business services, technology, and transportation and warehousing sectors.

In Tanzania, FDIs rose by 133 percent to reach pre-Covid-19 pandemic levels, with 21 projects worth $1.3 billion and creating 4,566 jobs.

Source: The East African