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Cut the red tape costing Nairobi diplomatic hubs – Business Daily

Foreign Affairs Cabinet Secretary Raychelle Omamo. PHOTO | JEFF ANGOTE | NMG
The loss of the opportunity to host the African Medicine Agency (AMA) headquarters in Nairobi because of the delays in concluding the ratification of an African Union treaty is regrettable.
Rwanda is to host the new AU agency established to improve regulation of medicines, medical products and technologies after Kenya failed to meet the June bidding deadline.
Foreign Affairs Cabinet Secretary Raychelle Omamo in May wrote to Parliament for approval of Kenya’s ratification of AU’s Treaty for the establishment of the AMA, but the process wasn’t concluded before adjournment.
There are a lot of benefits that accrue to nations that host multilateral organisation offices, including investment in buildings, rents, and employment. Kenya is losing out on these benefits due to red tape and lack of coordination in government.
Kenya’s reluctance to grant the African Export Import Bank (Afreximbank) diplomatic status similarly forced the agency to move its Sh3 billion regional headquarters to Uganda.
The government ought to get its act together to ensure that the country doesn’t lose such opportunities in future.

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Finance specialist with courses ranging from corporate finance, perfonal finance and startup finance. Msc. Acturail Science, Bsc. Finance, COP Insurance and phD. Business Advministration -FInance(ongoing)

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