Kenya Investment Authority functions and contacts – Tuko.co.ke
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In these harsh economic times, it is crucial that people seek out alternative sources of income in the form of investments in Kenya. Presently, there are plenty of investment opportunities in Kenya that pay more than the minimum wage that some internships offer. That is precisely why the government started out the Kenya Investment Authority for people who are in need of starting a business in Kenya.
The Kenya Investment Authority was established to help investors in Kenya. Kenya Investment Authority mandate is to help with the implementation of new projects, organizing promotion activities for investment opportunities, and taking care of existing ones. As you can guess, the authority works closely with manufacturing companies, investment companies, and other partners to achieve its aims.
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The authority has three core functions namely:
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This includes providing the necessary information to investment companies and other groups on the sources of capital and investment opportunities. This information also includes the business climate and the rules of operation to both locals and foreigners.
These are essentially post-implementation services. The authority links up with investors regularly to help with the smooth implementation of projects and work on any issues that may have arisen.
Under this function, the authority makes sure that projects are implemented promptly. It also ensures that licenses, permits, exemptions, and incentives are easily accessible. This function is mostly achieved by liaising with other agencies that deal with matters not directly under the control of the authority.
Foreigners and locals investing in Kenya should understand that business registrations in Kenya have to go through the Registrar of Companies. The registrar issues the relevant certificates for all kinds of companies. After registration, the firm has to go through registration with the Kenya Revenue Authority, the National Hospital Insurance Fund, and the National Social Security Fund.
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Depending on the type of business, a license from the county government may also be needed. All applications are done through the eCitizen portal. However, limited liability partnerships have to do the registration the manual way at the company registry.
Kenya wishes to become a middle-income nation that is industrialized by the year 2030. The ultimate goal is to provide its citizens with a high quality of life way above the minimum wage. The establishment of Special Economic Zones (SEZ) is crucial to the achievement of these goals.
There is an SEZ authority that overlooks all the zones. The authority is tasked with the design, approval, establishment, and other operations of an SEZ. Under the SEZ, the following licenses are issued:
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The SEZ also offers incentives including tax exemption, work permit facilitation, duty exemptions, and protection and repatriation of profits. Areas that may be classified as SEZ’s are diverse and can include:
There are several opportunities that are offered by the agency for anyone wishing to facilitate investors. Internships are also available for students or for those wishing to increase their experiences. All these can be accessed through their website. There are also Kenya Investment Authority tenders up for grabs for anyone in that field.
The Kenya Investment Authority managing director is Moses Ikiara. The organization strictly operates on weekdays from 8 a.m to 5 p.m. Should you wish to get in touch with anyone at the firm, you can do so by visiting their offices, making a call, or sending an email. They have offices in Nairobi (head office), Kisumu, Eldoret, and Mombasa. Their contacts are:
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Physical address: UAP Old Mutual Tower, 15th Floor, Upper Hill Road
P.O. Box 55704 – 00200 City Square
Nairobi, Kenya.
Telephone: +254 (730) 104-200 / +254 (730) 104-210
Email: inquire@invest.go.ke
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The Kenya Investment Authority is here for you if you are thinking of starting any form of investment in Kenya. By working closely with investment companies, this agency is surely on the right track to improving Kenya’s economy.
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Source: TUKO.co.ke
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