The Kenyan government initiated work on a 2019 policy framework to establish a centralized oversight body for the business sector, addressing challenges from overlapping regulatory agencies and inconsistent policies. This effort aims to enhance investment climate and economic growth by streamlining operations.
Dr. Chris Kiptoo, Trade Principal Secretary, stated the initiative seeks to eliminate unfair competition, harmonize business regulations, and create equitable conditions for entrepreneurs. The framework also includes measures to integrate the informal sector and require business registration through a unified operations body.
Stakeholders have raised concerns about delayed VAT refunds impacting liquidity and operations. The proposed reforms align with broader economic strategies to strengthen Kenya's appeal to investors, as noted in the government's ongoing pursuit of political and economic reforms.
