Kenya is set to revolutionize its business climate with the introduction of a single online portal for foreign investors to apply and register nearly all business permits. This strategic move aims to enhance the ease of doing business and reduce regulatory costs for new firms.
The United Nations Conference on Trade and Development (UNCTAD) is spearheading the development of this integrated platform on behalf of Kenya Investment Authority (KenInvest). The platform, part of the Kenya Investment Single Window project, will serve as a one-stop online hub for investors looking to establish operations in Kenya.
This new system will interconnect with existing government databases such as the eCitizen portal, Kenya Revenue Authority’s iTax system, and various county government portals. The integration is designed to simplify business registration processes and improve navigation through the regulatory environment.
Currently, KenInvest offers an in-person one-stop shop to assist foreign investors with taxation registration, electricity connections, and work permits. However, crucial permits and licenses at the county level are not yet integrated into the system, posing challenges for investors.
The implementation of this online platform will enhance KenInvest’s capacity to register investment projects, collect data, and provide effective aftercare services. It aims to facilitate successful investment outcomes by monitoring and supporting investors throughout their journey.
This initiative comes in response to concerns about overlapping regulatory requirements and high compliance costs that deter entrepreneurs and weaken competition. By streamlining processes, Kenya aims to attract more foreign investments and foster a more competitive business environment.
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