Ethiopia rose to hold 14.4 percent of Kenya’s foreign assets in 2022 from 13.3 percent in 2021 and 0.2 percent in 2020. This instantly raised Kenya’s foreign assets in the country, putting it ahead of Uganda, Tanzania, the United States and Mauritius, among others, that previously outpaced it by a large margin. Safaricom’s investment helped to lift Kenya’s total stock of foreign assets to Sh514.9 billion in 2022 from Sh452.8 billion a year earlier. Tanzania is now second, hosting 11.8 percent of Kenya’s foreign assets. Outside Africa, the United States is the most popular, hosting Sh29.2 billion or 5.7 percent of Kenya’s foreign assets in 2022.

Source: Ethiopian News July 18, 2024 02:03 UTC