Empowered by a new constitution and administration, the national and county Governments are approaching the private
sector as a central partner in the development and growth of the Kenyan economy.
A NEW APPROACH TO THE PRIVATE SECTOR
A New Government
The new Jubilee Administration regards the private sector as a key centre of economic and social development. It has signaled this shift in the Governmentâ€™s orientation through the divestment of its majority shareholding in state commercial companies through the Nairobi Securities Exchange.
Business environment reforms
Kenya is making efforts to lower the cost of doing business by conducting extensive business regulatory reforms intended to substantially reduce the number of licensing requirements and to make the licensing regimes more transparent and focused on legitimate regulatory purposes.
Open market access system
Kenya has fully liberalised its economy and removed all obstacles that previously hampered the free flow of trade and private investment, such as exchange controls, import and export licensing, as well as restrictions on remittances of profits and dividends.
Devolution into County Governments
Empowered by the new constitution, devolution offers an opportunity for investment through localised innovation and through collaboration, by building commercial ecosystems that expand employment opportunities and empower local communities.
- The Kenya Constitution guarantees against expropriation of private property
- No exchange controls guarantee repatriation of capital, profits and interests
- A Member of the Multilateral Investment Guarantee Agency (MIGA) and the Africa Trade Insurance Agency (ATIA), which both insure foreign investments against non-commercial risks
- A member of the International Centre for Settlement of Investment Disputes (ICSID), which arbitrates cases between foreign investors and host Governments.