2024 Foreign Investment Survey (FIS)

The stock of foreign liabilities increased by 3.4 per cent from KSh 2,263.6 billion at the end of 2022 to KSh 2,341.6 billion at the end of 2023. The increase was mainly on account of Foreign Direct Investment (FDI) which rose by 8.5 per cent from KSh 1,343.1 billion at the end of 2022 to KSh 1,457.5 billion at the end of 2023. The stock of Portfolio Investment (PI) increased by 6.7 per cent from KSh 54.0 billion at the end of 2022 to KSh 57.6 billion at the end of 2023. Over the same period, Financial Derivatives and Employee Stock Options rose from KSh 26.0 billion to KSh 32.7 billion, while the stock of Other Investment (OI) liabilities declined by 5.6 per cent from KSh 840.6 billion at the end of 2022 to KSh 793.8 billion at the end of 2023. Foreign Direct Investment accounted for 62.2 per cent of the total foreign liabilities in 2023 and was largely in the form of equity and investment fund shares. Other Investment liabilities accounted for 33.9 per cent of the total stock of foreign liabilities at the end of 2023, and mainly comprised loans; and currency and deposits.