Tourism to take off in post-election Kenya - CNBC Africa

Tourism to take off in post-election Kenya

East Africa

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“TPS Eastern Africa is uniquely positioned. They’ve got outlets in Kenya, Uganda, Tanzania, Rwanda and Mozambique. Most of them are owned but I think the post-election opportunity in conjunction with Vision 2030 provides this company with a great opportunity to grow its business,” Murigi told CNBC Africa on Monday.

The hotel chain, along with many others, had not been able to take advantage of the emerging tourism sector in Kenya due to fears over election violence earlier this year. This was due to violence surrounding the election in 2007.

“There was a lot of scepticism, tourist advisories against the country. The election was a hold-back in terms of tourist visits and in terms of business conference visits. Now that major hurdle has been overcome so there’s a lot of opportunity in terms of Vision 2030 – the tourism sector is one of the core sectors of Vision 2030,” said Murigi.

Vision 2030 is aimed at making Kenya a globally competitive and prosperous nation. While some investors have failed to take advantage of the opportunities Vision 2030 presents, the economy has continually flourished and proved to be resilient.

“The Nairobi Stock Exchange was the fifth best performing stock exchange in the world in 2012 and the best performing stock exchange in the world in the first quarter of this year. I think it was becoming harder and a lot of investors missed the boat because they were weary of the election but this provides an opportunity for some investors to come and take position,” said Murigi.