Thursday, June 7, 2012

Business registration made easy in Kenya

The Finance Minister Njeru Githae has affirmed that potential investors can register their businesses online starting September. The e-registration process is aimed at ensuring investors can easily establish their businesses in the country. According to the minister the e-registry will act as a platform for entering, storing and availing information on all business license requirements.

The finance ministry is currently working on the Business Regulation Bill that will simplify the process. Publication of the legislation is expected in the next three months, it will set up a Regulatory Reform Committee tasked with initiating regulatory reforms, with the assistance of the Business Regulatory reform Unit. The minister has also indicated that the one-month registration period may be reduced to 14 days.

A Doing Business Report released by the International Finance Corporation and the World Bank Group ranked Kenya 109th an indication that the cost of starting a business in the country was high.

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