KenInvest managing director Moses Ikiara. PHOTO | FILE
The Kenya Investment Authority (KenInvest) has unveiled a two-floor one-stop shop at Old Mutual UAP Tower for entrepreneurs requiring various government permits to start businesses.
The investor centre is located in Kenya’s highest building at Upper Hill, Nairobi, with the government taking 23,463.54 square feet on the 14th and 15th floors.
The centre will also house the headquarters of KenInvest, the state agency charged with facilitating investors.
KenInvest CEO Moses Ikiara said the centre is expected to bring together all government agencies responsible for investors under one roof modelled around globally acclaimed centres in Singapore and Costa Rica. “The one-stop investor centre will house key agencies responsible for business registration, investment promotion, environmental clearances, privatisation and specialist agencies which support the priority sectors of ICT and tourism as well as SMEs and human capacity development in the private sector,” said Dr Ikiara in a statement.
The centre will offer hands-on support for investors willing to set up infrastructure, agriculture, tourism, energy, financial services, mining and real estate business among others.
Boost business
UAP Old Mutual Group managing director asset management Patricia Kiwanuka said the centre will boost business at the 33-floor block, which she added has attracted both local and multinational tenants.
“We have a diverse mix of tenants who are looking for centrally located Grade A office space,” Ms Kiwanuka said.
She said the tower has recorded over 50 per cent occupancy. Among the tenants are government agencies, financial institutions and multinationals headquartered in Nairobi.
The tower is based in the Upper Hill financial district of Nairobi and was completed at a cost of Sh5 billion. It is the group’s largest property investment to date.
Among other services, the one-stop investor centre will offer assistance in obtaining necessary licences and permits, incentives or exemptions under the Income Tax Act, the Customs and Excise Act, the Value Added Tax Act and other legislation.
It will provide information to investors on the business climate, operating rules, investment opportunities and sources of capital, liaise with other government agencies for the issuance of additional licenses and approvals not directly handled by the Authority and issuance of Investment Certificates that facilitate immediate start of a business.
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