Treasury and National Planning Cabinet Secretary Ukur Yatani announced the Nairobi International Financial Centre's readiness to open for business later this year.
CS Yatani revealed that the Nairobi International Financial Centre Authority has put in place all the necessary regulations and 36 operating frameworks, paving the way for its official opening.
The NIFC seeks to create an ideal operating environment for ambitious local and international firms to flourish in Kenya and the region.
Located in one of Africa's most exciting cities, Nairobi, the NIFC will offer firms access to a competitive legal and regulatory framework, a vibrant financial ecosystem, and efficient doing-business facilitation services.
The NIFC Authority plans to develop incentives to attract international firms to partner with local firms, enhance local capacity, and encourage firms to export their services from Kenya to other countries regionally.
The financial hub will focus on attracting financial and related services that contribute to growing the economy, including financial institutions, asset managers, insurance companies, and financial services focused on fintech, green finance, and digital finance.
With its strong financial credentials and access to the African Continental Free Trade Area (AfCTA), Nairobi is a gateway into sub-Saharan Africa, making it easy to trade across 54 African countries with 1.3 billion people and a combined GDP of $3.4 trillion.
