Kenya's New Constitution to Boost Investment From U.S., Daily Nation Says

U.S. investment in Kenya will surpass the current level of $3 billion annually following the public’s approval of a new constitution for the East African nation, the Daily Nation said, citing U.S. Ambassador Michael Ranneberger.

Business investment, foreign aid, charitable donations and remittances from Kenyans living in the U.S. should expand as the constitutional changes agreed upon in a referendum last week are implemented, the Nairobi-based newspaper cited Ranneberger as saying during the inauguration of projects in rural Kenya backed by American Presbyterians. There were no details in today’s report of how much U.S. investment may increase.

To contact the reporters on this story: Sarah McGregor in Nairobi at smcgregor5@bloomberg.net.

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