Mr. Oscar Njuguna, (the Acting. CEO of NIFC) delivered a presentation on the ways in which investors can leverage the NIFC to deepen their investments in Kenya.

The Nairobi International Finance Centre (NIFC) was established as a flagship project under the economic pillar of Kenya’s Vision 2030. NIFC is designed to be a leading financial hub, that offers an efficient gateway for investors and businesses to the African market. The NIFC is focused on providing an operating environment that is efficient and attractive for investors. Its key pillars include providing efficiency in operating frameworks, improving the
legal and regulatory environment in Kenya including the dispute resolution frameworks within the financial and technology sectors, and providing incentives and predictability in Kenya’s tax regime.

In its bid to achieve its objectives, the NIFC’s framework has been designed to ensure that the following measures are put in place for the benefit of investors:

No company ownership restrictions while setting up in Kenya.
No nationalization or expropriation of property.
No restrictions on repatriation of profits.
Investors can employ qualified staff of choice.
Tax and regulatory predictability.
Efficient business establishment; and
Government and regulatory support from the NIFC.

Currently, entities certified under the NIFC enjoy various incentives. For example, Capital Gains Tax (CGT) application, in instances where a company invests five billion Kenya shillings; and the transfer of such investment is made after five years, the applicable CGT rate shall be the rate that was prevailing at the time that the investment was made. In addition, the Corporate Tax application, in instances where a company operates a carbon
market exchange or emission trading system, the applicable corporation tax rate shall be 15% for the first ten years from the year of commencement of its operations.

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