Why safeguarding investments is key to Kenya's growth

CEO of Kenya Investment Authority (KenInvest) John Mwendwa speaking during high level UAE - Kenya Trade & Investment Forum. [Wilberforce Okwiri, Standard]

Like many developing countries, Kenya is making deliberate efforts to not only retain existing multinational companies but also attract new international investors. This ambition is being championed through various policy directives from government agencies including the Office of the President, the Ministry of Trade and Industry, and the Ministry of Interior, supported by regulatory bodies such as the Kenya Revenue Authority (KRA), Kenya Bureau of Standards (KEBS), and the Registrar of Companies, among others.

As part of ongoing reforms to improve the ease of doing business, the government, as part of its Bottom-up Economic Transformation Agenda, in partnership with the private sector, development partners, and other stakeholders, continues to review, enact, and repeal outdated or restrictive laws at both national and county levels. The goal is to create a more enabling and conducive environment that allows investors, both foreign and domestic to establish, operate, and expand their businesses in the country without unnecessary bureaucratic hurdles.