Invest in Africa–08 lives up to its hype in London.

By topi lyambila and Agnes Gitau

The venue was the plush Central London Holiday Inn Hotel in Bloomsbury, a bit posh but befitting for the event, the hall on Day 1 was almost packed to capacity. Day 2 saw the exhibition stands open up with potential investors and curious Diasporans streaming in eager to find out what is kicking.

This year’s conference themed Invest in Africa build Africa was once again a successful partnership of Networking for Professionals, a non political group that links professionals together, Kenya High Commission – UK and Real Ken International.

The exhibition hall was much bigger and provided a very handy business marque atmosphere that went down well with the visitors. Ann a prospective investor commented; "I feel like I am at the World Trade Market exhibition."

Many others felt it was very timely and most just enjoyed the networking, meeting friends and interacting with the business community.

There was a strong presence of Government exhibitors among them, the Kenya High Commission, the National Housing Corporation which was represented by the Chairman Bosire Ogero, who highlighted the need to have a decently housed Nation as part of the ‘Vision and Mission’ – “To play a leading role in developing and provision of adequate and affordable housing and related services efficiently while conserving the environment and contributing to economic development.”

The Kenya High Commission to the UK H.E. Joseph Muchemi disclosed that while last year’s event was heavy on product offer, this year’s was more on diversity including the education of potential investors. HE Muchemi called the conference a great opportunity not only for the real estate market in Kenya but for the whole of Africa. He has since coming to the UK engaged the Kenyans in various initiatives, uniting the Kenyans in the diaspora and giving the Kenya Mission in the UK a user friendly mission. His open door policy to all Kenyans has been one of a kind.

Dr Lawrence Mbugua, CEO networking for professionals stressed that despite the political challenges that parts of Africa face, there is a belief that there is still opportunity in Africa and called on the diaspora as well as Africa leadership to come together to mobilise investor confidence.

Dr Mbugua reminded us on the growing importance of the diaspora, citing the remittances from Africans working in the diaspora had surpassed the foreign direct investment, with an average of $17 billion per annum. Africans are now more than ever keen to invest at home and one such way is by building a home. Dr Mbugua called it,’scramble for Africa by Africans abroad.

The guest of Honour Hon Soita Shitanda Minister for Housing who also graced last year’s event delivered a user friendly key note address emphasising the Government’s focus on the alleviation of poverty by supporting the less fortunate in our society. The minister also disclosed that “According to the 2007 National Bureau of Statistics documents, Real Estate, renting and business contributed 5.5 per cent to Kenya’s GDP.”

In his speech the Chairman of the Investment Committee Mr. Joe Mungai reiterated the Minister’s take saying that Housing was big business in the country and that all building projects coming up are snapped up before event the foundation is completed.

As indicated earlier, the focus this year is on the wider scale of continental investment and investors.

But the revelation of the KPE-08 must have been the Umeme Pamoja push. James Njuguna had all ears when he gave his presentation on the reversal of fortunes at Umeme electricty for all Kenyans). The fact that they have become more proactive and are now seeking customers instead of the traditional civil servant mentality of waiting for users to come to them.

Vipingo Ridge were also flogging properties at the Coast including world class golf courses, were quite a hit with the foreign investor who saw a handy business holiday in the making.

There was an evident underlying push by the exhibitors which kind of followed up with the recent visit by the PM and the five cabinet Ministers, and that is “Kenya is ready and willing to expand economical and would welcome investors for bigger benefits.

The exhibition has this year attracted exhibitors from the rest of Africa and from Europe as well. Among them were the ChainLink Homes – with their motto of ‘Invest in Yourself’ – ChainLink based in the UK are a professional organisation that specialises in property investment.