This archive report was first published on 8 November 2019.
On November 8, 2019, the Kenyan Government announced plans to provide incentives to wealthy foreign investors, including a potential easing of citizenship rules.
According to Moses Ikiara, Managing Director of the Kenya Investment Authority (KenInvest), the government is considering a proposal to grant permanent residence status to wealthy foreign investors after a vetting process.
The proposal is part of the government's new investment policy, which aims to attract and facilitate private investments in the country. The policy, unveiled on Wednesday, will be chaired by President Uhuru Kenyatta and will include representation from the private sector.
The policy aims to bring stability to the investment environment and will offer conditional incentives to investors based on their differentiated needs. The minimum capital requirement for foreign investors, currently set at KSh 10.3 million, will also be reviewed.
Kenya's Foreign Direct Investments increased by 27.53% in 2018 to KSh 165 billion, according to the World Investment 2019 report.
