KenInvest Kick Starts Investment Facilitation Project (IFP) in Partnership with UNCTAD

: Published on Friday, 13 March 2015 06:21

Kenya Investment Authority (KenInvest) announced the kick start of the Investment Facilitation Project (IFP) in partnership with UNCTAD. The IFP aims at combining use of ICT (electronic) technology to improve the efficiency and effectiveness of investor facilitation.

The Project will provide a user friendly interface that enhances the capacity of KenInvest’s online services for investors under one platform. By implementing an online step-by-step guide on investment related procedures; as well as strengthening the data base for investment opportunities, the system will enhance quicker and easier access to information by investors.

Announcing the details of the project during a stakeholder’s breakfast meeting held on Thursday, 12th March, 2015 the Principal Secretary in charge of Commerce and Tourism in the Ministry of East African Affairs, Commerce and Tourism Dr. Ibrahim Mohammed, said the IFP is happening at the right time when ICT enabled systems are becoming integral in supporting the delivery of government services in Kenya. He cited KENTRADE, HUDUMA Centers and itax by KRA, as recent examples.

He further added that the project is a step in the right direction in Kenya’s endeavor to serve investors better and facilitate faster growth of private investment. The implementation of the Investment Portal will ensure that there is institutional and inter-agency synergy particularly on those government agencies that are involved in investor facilitation.

Echoing his sentiments, the Kenya Investment Authority Managing Director Dr. Moses Ikiara, said that once the IFP is finalized it will provide up to date and comprehensive information on the procedures for starting a business, getting permits, available investment opportunities by sector and by county, taxation regimes, institutional linkages and investment incentives, among others. The portal will also link investors to various digital services for a seamless and comprehensive facilitation service.

“We shall promote the portal among foreign and local investors, including small businesses and expect to finalize and launch the portal by next year”, said Mr. Kjartan Sorensen of UNCTAD, who is one of the technical experts on the project.

The breakfast meeting was attended by top officials of the Embassy of the Kingdom of the Netherlands in Kenya, which is supporting the project, and various agencies involved in facilitating investors in Kenya.

Source: Kenya Investment Authority.

“Multinationals looking to enter Kenya should engage with the Kenya Investment Authority. They are helpful with advice on regulatory frameworks and requirements. I would definitely advise multinationals to use this as a point of entry”.

Loren Bosch, MD, Internet Solutions Kenya

“Kenya Investment Authority has proven very helpful not only to us as a young business but to our clients both local and international. They have been very instrumental in providing information and direction to companies looking to set up their businesses and invest in the region.”

Maria Wamakonjio, MD, ESBC Limited

Kenya’s retail property market is growing and the list of new retailers entering the market is deepening; the retail market here is primed and is ripe for growth.

Jonathan Yach, Managing Director, Broll Property Group.

“Kenya has emerged as one of Africa’s ‘frontier economies’, and I am very interested in learning how the country’s leaders and people will build on this success moving forward.”

IMF Managing Director Christine Lagarde

“Kenya has a great creative potential and is a key market in advertising. If you look at last year’s ranking, Kenya is top on the list. This goes to show the worth of this industry.”

Mr. Andrew Human, CEO Loeries Africa Caravan.

“Foreigners are investing more in Africa than ever—and so are Africans” Bill Gates

“Isarel has confidence with Kenya as a key investment hub in the region.”

Israel Deputy Prime Minister Avigdor Liberman.

“Nairobi, Kenya is hosting several multinational headquarters, and is strategically located in Africa. It is also the regional business hub in the East African Community.”

Tune Hotels Group CEO Mark Lankester

If you’re going to do business in Africa, Kenya is almost a requirement.

Stephen Hayes, Head of the US Corporate Council on Africa.

My Government has prioritized infrastructure development and investment to spur growth and job creation in all sectors of the economy.

H.E. President Uhuru Kenyatta

Kenya is a business hub, with a promising economic growth, fantastic weather, great hospitality personnel and the best safari experience in the world. Kempinski felt confident to come to the market with two properties within the same year- Villa Rosa Kempinski (Nairobi) and Olare Mara Kempinski (Maasai Mara).

Anne Murungi, Director of Sales and Marketing, Nairobi.

“The emerging and growing middle class in Nairobi offers a perfect market for the food retail business.”

Christopher J. Bak, CEO, Liberty Eagle Holdings, the franchise holders for Subway Kenya.

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KenInvest Kick Starts Investment Facilitation Project (IFP) in Partnership with UNCTAD

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