14. Investment Promotion Act, No. 6 of 2004

The purpose of the law is to promote investment by assisting investors in obtaining the licences necessary to invest and by providing other assistance and incentives and for related purposes.

Quick Link: https://new.kenyalaw.org/akn/ke/act/2004/6/eng@2022-12-31

· The Act provides for the establishment of the Kenya Investment Authority (KenInvest) which is a critical agency whose mission is to promote and facilitate domestic and foreign investment in Kenya by advocating for a conducive investment climate, providing accurate information and offering quality services for a prosperous Nation. Importantly, the Authority provides crucial information on the investment climate in Kenya including setting out key procedures, regulations and requirements for investing in different areas of the economy on its website.

· Section 4 of the Act and Part III of The Second Schedule provides for licences to which a holder of an investment certificate may be entitled including: development permission and certificate of compliance in line with the physical planning law. This means that holders of investment certificates by the Kenya Investment Authority may enjoy expedited approvals by being issued with development permissions and certificates of compliance. The Authority is also in charge of determining the investment criteria and investment thresholds for the businesses in the special economic zone and maintains records of the enterprises and residents operating in each zone.