Kenya's Forward Leap: Opening Doors to Global Investment in the ICT Sector

In a recent development, H.E. the president, William Ruto, made a significant move by lifting the cap on foreign ownership within the ICT sector. This transformative decision has had tangible results, as evidenced by Amazon's recent investment in Kenya. The presence of such a global tech giant in the country serves as a powerful testament to Kenya's open, ready, safe, and business-oriented environment.

The removal of the cap on foreign ownership is a pivotal step in facilitating foreign investments in Kenya. It eliminates a fundamental barrier that had previously hindered international companies from fully participating in the Kenyan market. This policy change reflects the government's commitment to fostering a favorable investment climate and encouraging economic growth.

Moreover, this commitment extends beyond the ICT sector. Kenya is determined to eliminate foreign shareholding restrictions in other priority sectors as well. This strategic move aims to attract foreign investments and create an environment that encourages both local and international businesses to thrive.

In summary, the lifting of the cap on foreign ownership in the ICT sector, coupled with Amazon's investment, underscores Kenya's dedication to welcoming foreign investments, removing barriers to entry, and fostering a vibrant and dynamic business landscape across various sectors.