Kenya saw an increase to $672 million, up 71 per cent, due to strong domestic demand and inflows into ICT sectors.
Kenya FDI inflows
East Africa, the fastest-growing region in Africa, received $7.6 billion in FDIs in 2017, a 3 percent decline from 2016.
Top FDI locations in East Africa
Source: UNCTAD 2018
The Kenyan government has a five-year strategic plan to transform the country into a high-tech hub in Africa. Nairobi is currently the most advanced city in Africa in terms of ICT use. The country is also one of the biggest markets in Africa for app downloads, and it has the highest mobile penetration rate in East Africa, at 42%.