The government of Kenya is working in collaboration with the private sector to introduce more business reforms and policies that will see investors continue to do their businesses in the country with more ease.
This move is aimed at attracting new international investors, who the government says can now register their businesses in a day, file taxes electronically and access regional markets more easily, to help improve the country’s economic performance.
As part of existing reforms, the government has ongoing plans to expand power generation capacity by 5000 megawatts by 2017, as part of efforts to reduce the high cost of power that affects the cost of doing business scaring off potential investors.
JUUCHINI reported last week that power distributor Kenya Power had selected solutions provider IBM to provide an automated system that would allow for real time data streaming, as part of efforts by the company to expand clientele and push electricity generation capacity.
At the Kenya International Investment Conference (KIICO) held today in the country, President Kenyatta said his government was in full gear towards providing investors with clean and cheap energy.
Among other electronic systems that have been flagged off to help ease business operations, include the Single Window System, an electronic platform launched in October that works as a single entry point for shippers involved in international trade.
The platform was introduced to help speed up clearance of imports at the Kenyan ports, cutting trade costs and delays from the traditional bureaucratic procedures, corruption as well as improving space utilization at ports.
Then there is the East Africa Payment System (EAPS) that was launched in the country to help lower money transfer charges across the region, offering an affordable option for investors.
Also helping ease business operations is the One Network Area concept being championed by the East Africa Community (EAC) to reduce cross-border calling charges in the communication sector in order to help provide entrepreneurs across the regions with an easier and affordable way to do business.
The Kenyan government is banking on electronic business processes to improve the country’s economy and increase the level of global competitiveness, which according to the World Economic Forum is still very low.