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Counties asked to set up investment units for faster licensing

Investment promotion agency, the Kenya Investment Authority, says it is currently in talks with the 47 county governments to set up county investment units that will fast-track county licensing processes.

“Regardless of where investors choose to set up they need both county and national specific licenses in order for their businesses to take off,” KenInvest managing director Moses Ikiara said in a phone interview.

He said that it was paramount for each county to set up the investment units specific to the size of the county and investor needs as they would help with the coordination of license allocation, adding that the investment units would be less costly to establish compared to county one-stop-shops.

The authority, he said, will provide a direct linkage from its one-stop-shop for investors to the 47 investment units once operational.

“Currently there are such units in Machakos and Kisii,” Ikiara said. “Kiambu also just recently set up an investment unit while Meru county has a fully operational investment cooperation.”

The agency has spent in excess of Sh140 million on setting up the new ultra-modern centre which occupies two floors at the 33-storey UAP Old Mutual Tower. This will be an upgrade from the current office space at Kenya Railways Building.

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