Kenya being a multi-cultural society endowed with a rich diverse cultural heritage, a lot of investment potential exists in the heritage and cultural area. Investment in these areas will also add value to holiday experiences. With a growing economy and tourism sector, there is an increasing demand for fresh entertainment options such as cultural heritage, clubs, theatres, traditional food restaurants, music, and an International Culture and Arts Centre.
The existing cultural outlets such as the Kenya National Theatre, the Godown Arts Centre, the Bomas of Kenya, Municipality Social Halls, Foreign Cultural Centres, Community Cultural Centres, Tourist Hotels that have continued to flourish during open-air national or social events unfortunately lack the capacity and thrust to provide an all-inclusive space for the development, harnessing, promotion and consistent dissemination of these cultural goods and services of Kenya in a comprehensive purposeful and respectful manner.
The following are some of the investment opportunities to promote culture and heritage;
1. An International Culture and Art Centre
Investment in a state of the art International Culture and Arts Centre for creative industries will provide a focal point for development, promotion and dissemination of cultural information, education, skills and talents development, research and cultural enjoyment for
Kenyans and the international communities. This will market the country as a tourist destination through cultural tourism, and also enhance the cordial relationship and cultural exchange programmes. The centre is expected to be the melting pot for cultural matters at local, regional and international levels.
2. Building New Exhibition Galleries for the Nairobi National Museums
The Nairobi National Museum will require new, more relevant, engaging and exciting exhibitions. The new exhibitions will include cultural and natural artefacts, which will give more comprehensive account of Kenyan culture and history. These displays will promote patriotism and national pride as well as be a major tourist attraction for domestic and international tourism. Other displays will include human origins (Kenya is a cradle of mankind), geology, ecology of Kenya and artefacts. It is expected that by holding block busterexhibition events, and having innovative and creative events around the various exhibitions throughout the year, the return to investment would be positive
3. Sports Facilities and Stadia
The government of Kenya recognizes the role played by young people in the process of national development. In respect the government through the Ministry of Youth Affairs and Sports is inviting investors to invest in construction and development of 30 regional sports stadia countrywide. The proposed investment will generate income to investors from fees and charges from hiring of the facilities and advertisements and will create employment opportunities for the Kenyan youth.
The establishment of International Sports Academy is one of the investment opportunities for excellency in training, research and consultancy service in sports. It will focus in skill development in Olympics sports, training of coaches, sports administrators and trainers. The academy will also have hostels and hotels, indoor sport facilities, administration blocks, pitches and sitting terraces. Investors are invited to participate through a joint venture or PPP framework. The IRR for the investment will be 18.1%.