This archive report was first published on 26 August 2020.
Published on August 26, 2020, a Senate bill seeks to give counties more say in the country's investment agenda.
The Investment Promotion (Amendment) Bill, 2020 proposes to give the Council of Governors (CoG) two seats in the board of the Kenya Investment Authority, the State agency responsible for promoting and facilitating investments in the country.
The proposed law also gives four seats to the CoG in the Investment Promotion Council, an advisory body that guides the government on growing investments.
According to the Bill, the participation of county governments in the promotion of trade and the formulation of policies and strategies to attract investors will be ensured.
The Bill also seeks to streamline the management of the authority by outlining the specific qualifications for appointment of board members and their tenure of office.
Additionally, the proposed amendment creates County Investment Units, which will be manned by county executive committee (CEC) members in charge of trade.
These units will be responsible for scouting for investment opportunities, marketing them, and holding investors' hands when they set up operations in their counties.
