KEPSA signs pact with KeInvest to promote a stronger investment climate
Agreement aims to strengthen economic, technological and investment relations within Kenya
Kenya Private Sector Alliance (KEPSA) and Kenya Investment Authority (KenInvest) have inked a groundbreaking Cooperation Agreement aimed at cultivating a stronger investment climate in the country.
The agreement, which was signed by KEPSA CEO Carole Kariuki and KenInvest CEO John Mwendwa, establishes a robust framework for closer cooperation between the two institutions, fostering mutual benefits and significantly strengthening economic, technological and investment relations within Kenya.
It seeks enhance economic, technological, and investment partnerships and the exchange of pertinent economic and commercial intelligence regarding investment opportunities, within the bounds of legal frameworks.
The agreement will also aim at fortification of bilateral investment relations through collaborative efforts and proactive promotion of investments and dissemination of relevant activities to deepen overall economic engagement between the two parties.
“Today’s signing of the Cooperation Agreement between KEPSA and KenInvest is more than just a formal commitment; it is a testament to our shared vision and dedication to driving sustainable investments,” stated Kariuki during the signing ceremony.
She also reiterated KEPSA’s commitment to fostering a conducive business environment that attracts and retains investors. To achieve these objectives, KEPSA and KenInvest will engage in strategic cooperation across several key domains.
On his part, Mwendwa said; “This partnership marks a significant step towards creating a more competitive and attractive investment destination in Kenya.”
He added that by working closely with KEPSA and other key stakeholders, KenInvest is confident that they can unlock the full potential of the private sector and drive sustainable economic development.”
Recognising the critical role of the business environment, the partnership will focus primarily on policy advocacy and business environment enhancements, collaboratively working to influence policies that improve Kenya’s ease of doing business. This will involve streamlining regulations, reducing investment barriers and cultivating a transparent, predictable and investor-friendly atmosphere in constructive public-private dialogues.
In terms of Investment Single Window (ISW), the two entities will partner in its implementation, promotion and operationalisation. They will serve as a strategic instrument for enhancing investment facilitation and informed decision-making in Kenya, encompassing data sharing, investor support, stakeholder engagement, capacity building, and system integration, all under the guidance of a joint working group.
The signing of the cooperation agreement represents a significant stride towards a more unified and effective strategy for investment promotion and overall economic advancement in Kenya.
Both KEPSA and KenInvest said they are dedicated to a close working relationship to realise the agreed areas of cooperation and contribute substantively to the nation’s economic transformation
