High cost of land a grave issue

• As prices shoot through the roof, many potential investors are taking off in search of better options

“The government has several policy options that can make land available and affordable for development. These include buying, compulsory acquisition and ring-fencing the remaining government land for investment,” said Mr Mwathane.

A report by the United Nations Conference on Trade and Development shows Kenya’s Foreign Direct Investment dropped from $729 million in 2007 to $141 million last year.

Uganda’s, on the other hand, improved from $733 million to $799 million, while Tanzania’s remained at $645 million.

Some of the reasons advanced are political, including restrictions on foreign ownership in certain sectors.