Nairobi business hub can catalyse faster growthThursday May 25 2023
The Nairobi International Financial Centre (NIFC) presents a good platform for domestic and international investors in an age of limitless and diverse business and investment openings.
Kenya's economic landscape is full of potential, and at the core of this promise is the NIFC, a business idea set up under Kenya's Vision 2030 economic blueprint, which aims to transform the country into a globally competitive and prosperous nation.
The facility seeks to attract investment in key areas of development, thus propelling the country from a frontier market to an emerging one.
Its objectives extend beyond creating jobs and boosting investment in local businesses.
It also targets improvements in Kenya's financial services sector, creating a more stable, efficient, and globally competitive marketplace that promotes investment and contributes to the country's overall economic growth.
The centre offers a one-stop shop for business incorporation and facilitation as well as tailor-made operational rules.
It aims to foster a predictable business environment with a stable tax and operating framework intended to attract long-term investments.
In addition, the NIFC offers a range of incentives to both local and international firms. These include a quick immigration turnaround and predictable tax rates for specific financial services.
Furthermore, the Centre focuses on enhancing the legal and regulatory ecosystem, offering a more streamlined framework for dispute resolution within the financial sector.
To conduct business through the NIFC, firms must apply for certification by the NIFC Authority.