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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