Although bids to host the 2020 Summer Olympics are already locked in -- Istanbul, Tokyo and Madrid are currently vying for the honor -- dozens of cities around the globe are already positioning themselves for the 2024 games, and Nairobi, Kenya, is the latest contender.

In a presentation at his team's office at the London Games on Wednesday, Kenyan Prime Minister Raila Odinga announced that the country will bid to bring the Olympics to Nairobi in 2024.

Reuters reported Thursday that Nairobi, which would be the first African site to host the Olympics, has already begun beseeching investors to help finance the facilities necessary to make a bid realistic. Isiah Kiplagat, chairman of Kenya's athletics federation, called it "a golden opportunity" for investors.

"The facilities are not conducive; they are not good enough," said Kiplagat. "The opportunities are there for you to invest in high-altitude training centers."

Likewise, Paul Otuoma, Kenya's Minister of Youth and Sports, emphasized that the country has a lot of work cut out for itself if it is going to update its sporting infrastructure.

"As a nation we are very much alive to what it really takes to hold an event of this magnitude, but Kenya is heading towards that direction," said Otuoma.

Kenya is not the first African country to make a bid, however. Egypt (Cairo) and South Africa (Cape Town) made unsuccessful bids in 2008 and 2004, respectively.

Planning for the 2024 games is still in the early stages; bidding will officially begin in 2015, and the decision will be announced at the International Olympic Committee in 2017.

View the slideshow to see photos of the other cities that may be placing bids to host the Olympics in 2024.