NAIROBI, Kenya – Kenya’s business-friendly policies have earned accolades from the China Africa Business Council (CABC), which highlights the East African nation as a leading example of a conducive business environment on the continent.
The council’s 2024 report on Chinese investments in Africa praises President William Ruto’s administration for its robust efforts in facilitating trade and investment.
The report commends Kenya’s strides in providing preferential access to national bank credit, easing access to industrial land, and expediting work permits for expatriates, marking these as significant incentives attracting foreign investments.
“Kenya’s fiscal measures and investment incentives are key, making it a leader alongside Uganda and Tanzania in implementing business-friendly reforms,” the report states.
Key initiatives, such as the Presidential Transformation Program “KenNIP,” the revised Investment Code, and the adoption of the Startup Bill in 2023, have been instrumental in fostering a dynamic business environment, according to the CABC.
The council also lauds the 2021 code of conduct for civil servants, emphasizing its role in enhancing integrity within Kenya’s public sector.
In addition, the report notes that Kenya’s strategy for digitizing government services, initiated in June 2024, is set to reduce administrative processing time and boost the efficiency and transparency of public services.
The establishment of industrial parks and special economic zones, such as the KEPZ in Athi River and zones in Mombasa and Lamu, are highlighted as crucial drivers of industrialization and manufacturing in Kenya.
The CABC report comes ahead of the 2024 Forum on China-Africa Cooperation (FOCAC) summit, scheduled from September 4 to 6 in Beijing.
African leaders, including President Ruto, are expected to attend, focusing on “jointly advancing modernization and building a high-level China-Africa community with a shared future.”
During the summit, Kenya will showcase significant projects like the Standard Gauge Railway and the Nairobi Expressway.
These infrastructural marvels have not only reduced logistics and transport costs but have also significantly eased traffic congestion and spurred economic growth, making Kenya a pivotal economic, transport, and tourism hub in East Africa.
Furthermore, China’s support for agricultural research through initiatives like the Kenya-China Belt and Road joint laboratory for crop molecular biology at Egerton University and the Sino-Africa Joint Research Center at Jomo Kenyatta University of Agriculture and Technology underlines the collaborative efforts in enhancing food security in Kenya and the broader savannah region.
The success of these projects promises to boost food production and improve livelihoods.
In the energy sector, the Ethiopia-Kenya DC Power transmission project, implemented under China Electric Power Equipment and Technology Co. Ltd., has been highlighted as a benchmark for interconnecting transnational power grids.
This project has enabled Ethiopia to export surplus hydropower, thereby alleviating Kenya’s domestic power supply challenges.
The council’s 2024 report on Chinese investments in Africa praises President William Ruto’s administration for its robust efforts in facilitating trade and investment.
The report commends Kenya’s strides in providing preferential access to national bank credit, easing access to industrial land, and expediting work permits for expatriates, marking these as significant incentives attracting foreign investments.
“Kenya’s fiscal measures and investment incentives are key, making it a leader alongside Uganda and Tanzania in implementing business-friendly reforms,” the report states.
Key initiatives, such as the Presidential Transformation Program “KenNIP,” the revised Investment Code, and the adoption of the Startup Bill in 2023, have been instrumental in fostering a dynamic business environment, according to the CABC.
The council also lauds the 2021 code of conduct for civil servants, emphasizing its role in enhancing integrity within Kenya’s public sector.
In addition, the report notes that Kenya’s strategy for digitizing government services, initiated in June 2024, is set to reduce administrative processing time and boost the efficiency and transparency of public services.
The establishment of industrial parks and special economic zones, such as the KEPZ in Athi River and zones in Mombasa and Lamu, are highlighted as crucial drivers of industrialization and manufacturing in Kenya.
The CABC report comes ahead of the 2024 Forum on China-Africa Cooperation (FOCAC) summit, scheduled from September 4 to 6 in Beijing.
African leaders, including President Ruto, are expected to attend, focusing on “jointly advancing modernization and building a high-level China-Africa community with a shared future.”
During the summit, Kenya will showcase significant projects like the Standard Gauge Railway and the Nairobi Expressway.
These infrastructural marvels have not only reduced logistics and transport costs but have also significantly eased traffic congestion and spurred economic growth, making Kenya a pivotal economic, transport, and tourism hub in East Africa.
Furthermore, China’s support for agricultural research through initiatives like the Kenya-China Belt and Road joint laboratory for crop molecular biology at Egerton University and the Sino-Africa Joint Research Center at Jomo Kenyatta University of Agriculture and Technology underlines the collaborative efforts in enhancing food security in Kenya and the broader savannah region.
The success of these projects promises to boost food production and improve livelihoods.
In the energy sector, the Ethiopia-Kenya DC Power transmission project, implemented under China Electric Power Equipment and Technology Co. Ltd., has been highlighted as a benchmark for interconnecting transnational power grids.
This project has enabled Ethiopia to export surplus hydropower, thereby alleviating Kenya’s domestic power supply challenges.
