Investment: The Real Pearl of Africa

In the late 19th and early 20th Century, Uganda was known to the then British Imperialists and colonialists as the 'Pearl of Africa'. The main economic activity of the Imperial British East Africa Company (IBEAC) in the British East Africa protectorate was agriculture. Uganda was then a fertile land laden with natural forests and beautiful rolling higlands. The source of the Nile, which had for decades been a mystery to the British explorers had been finally traced back to Uganda. The Buganda people were friendly to both the missionaries and the explorers. Without a doubt, this was the 'Pearl of Africa'.

Fast track to 21st century, and the sleeping giant of Africa, Kenya; is slowly awakening. From development of infrastructure to social political reforms, the country is building up the necessary business and investment environment stability that is set to propel the country to greater economic heights. The country has recently discovered potentially huge oil reserves. This is not the only economically essential mineral resource to be discovered in Kenya since the turn of the century; huge deposits of titanium at the Coast, coal in Kitui and huge rare earth reserves in Shimba Hills.

An oil rig in one of Turkana's oil fields, Northern Kenya

If well utilized, these resources are bound to make Kenya not only an African economic giant but also a global force to recon with. In infrastructure, the planned development of the Konza Technopolis will make Kenya a global I.T hub. To exploit the vast natural resources, the country is building a second port in Lamu. This port will be linked with the vast oil fields in the north via the LASSET corridor which will consist of a railway line, road and pipeline that will extend to the neighbouring Ethiopia and Southern Sudan. Along the LAPSSET corridor, new resort cities are set to come up like the Isiolo and Turkana resort cities. At Lamu, in addition to the port, a new refinery is set to be built to refine the crude oil into finished petrochemical products.

The Lamu Port Southern Sudan-Ethiopia Transport (LAPSSET) Corridor Design Layout

The only major hurdle that the country is going to have to overcome is the deep-rooted colonial instigated ethnic divides as well as a political class that has promoted and continued with the colonial technique of absolute rule and power control of divide and rule. It can only be hoped that the recently promulgated constitution of 2010 will not only devolve power under the new devolution power structure but also help heal the ethnic divide. This surely makes Kenya the real 'Pearl of Africa' in the 21st century.