NAIROBI, Kenya- In a move to streamline its business climate and cut regulatory costs, Kenya is set to launch a single online portal for foreign investors to apply and register nearly all business permits.
The United Nations Conference on Trade and Development (UNCTAD) is spearheading the development of this platform on behalf of Kenya Investment Authority (Keninvest).
The Unctad-led Kenya Investment Single Window project aims to become a comprehensive online platform for investors seeking to establish businesses in Kenya.
The system will integrate business registration systems at both national and county levels, connecting with existing government databases such as the eCitizen portal, the Kenya Revenue Authority’s iTax system, and various county government portals.
“This integration will enhance the functionality of existing platforms, making it easier for businesses to navigate the regulatory environment,” Unctad noted in a statement.
Currently, KenInvest operates a one-stop, in-person shop that assists foreign investors with firm registration, taxation, electricity connections, and work permits for employees.
However, these services do not cover essential permits and licenses at the county level, creating additional hurdles for investors.
The new platform is designed to address these challenges by offering a streamlined, online application process for all necessary permits, including environmental impact assessments from the National Environment Management Authority (NEMA).
By reducing the need for separate applications and integrating various systems, the platform aims to eliminate significant barriers for investors and entrepreneurs.
“There is a pressing need for enhanced facilitation to elevate investment levels sufficiently to address interconnected economic, health, security, and climate challenges,” Unctad states.
The new system is expected to boost KenInvest’s capacity to register investment projects online, collect data, and provide effective investor aftercare services, thus ensuring successful investment outcomes.
Kenya’s current regulatory environment requires businesses to obtain nearly 20 different permits and licenses, depending on the nature of their operations.
These include business registration and licensing, environmental standards, food and beverage processing, waste management, and many others.
The overlap and duplication of roles among various agencies have long been a pain point for businesses.
The Kenya Association of Manufacturers has highlighted these issues, noting that excessive red tape and compliance requirements result in increased costs for businesses, hindering their competitiveness.
By simplifying compliance processes and reducing costs, the Kenya Investment Single Window project aims to attract more foreign investment and foster healthy competition across various sectors.
