Speed up approval of business-friendly laws, investors tell MPs

High taxes, punitive regulations and bureaucratic policies within government were top of the list of the complaints that the private sector wants Parliament to address as they review two key laws to open up the business environment.

The investors cornered Speaker Justin Muturi, his clerk Justin Bundi and the chairpersons of House Committees at a meeting in Mombasa’s Whitesands Hotel, where they demanded fast-tracking of the Companies Bill, 2015 and the Insolvency Bill, 2015. At the annual meeting with the Kenya Private Sector Alliance (Kepsa), the Speaker and the Clerk of the National Assembly agreed to speed up  enactment of laws to improve the business environment.

“We scrutinised the Bills and they were re-drafted. They have now been re-introduced after thorough consultations. We are likely to have the Bills passed fast because there’s a greater understanding on what is contained there in,” said Muturi. He told the investors that they ought to keep an eye on the regulations to different laws in order to help with implementation of laws so as not to stifle business.

“Every law passed provides the implementing authority with the latitude to come up with regulations. Even with the best intentions, the best laws unless implemented properly may frustrate business,” said Muturi.
Kepsa got the promise as Mr Bundi, who assured them that they will be involved in the legislative process.

Kepsa’s Victor Ogalo said the private sector players had come to the meeting with optimism that the MPs will back the laws and help make Kenya a lucrative business destination for investors. “We have come with interests and expectations... we have proposals that will improve the business environment and boost the growth of the economy,” said Ogalo.

The private sector said they had the clout to increase the government revenue base, create more jobs and just by their goods and services, grow the economy. “Fast-tracking the reforms in business will help with increasing investment...We have an ambitious target to see Kenya ranking in the global business environment within the top 50 best destinations to do business in,” said Ogalo.

Kepsa’s Vice Chair Laila Macharia asked the lawmakers to implement laws and policies that spur exports, support small businesses, reduce trade barriers, and enhance public participation of diaspora.

She said MPs have to talk to the private sector to make better laws. “We need a law to structure the public-private dialogue so that it allows business to be a true partner to advise and equip government in policy-making so as to bring dignity and prosperity to the Kenyan people,” said Macharia.