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Dubai: Series of economic reforms in the recent years and the liberalised financial sector makes Kenya an ideal candidate to become the investment hub of East Africa, said Professor Njuguna Ndung'u, Governor of Central Bank of Kenya.
"The Economic Recovery Strategy (ERS) adopted by the government since 2003 has gone a long way in reducing rural poverty and achieving about 6 per cent economic growth.
"Our objective is to take this growth rate to 10 per cent by 2012. Despite the recent political turmoil, we are confident, Kenya is on its way to achieving its objectives," Ndung'u said.
The recent economic reforms and strong commodity prices had put the Kenyan economy on its way to becoming a sub-Saharan African economic success story.
But violence brought on by the disputed December 27 presidential election killed several hundreds of people, displaced an estimated 600,000 and devastated nearly every sector of the economy.
"Our immediate task is to repair the physical damage the recent events inflicted on the infrastructure and instil confidence in the international investors. Our visit to the UAE and the Gulf region is part of this mission," he said.
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