KEPSA And KenInvest To Drive Investment And Economic Growth In Kenya

In a significant move to bolster Kenya’s economic landscape, Kenya Private Sector Alliance (KEPSA) and Kenya Investment Authority (KenInvest), have announced a groundbreaking Cooperation Agreement.

Signed in Nairobi by KEPSA CEO Carole Kariuki and KenInvest CEO John Mwendwa, this collaborative agreement establishes a robust framework for closer cooperation between the two institutions, fostering mutual benefits and significantly strengthening economic, technological and investment relations within Kenya.

The core objectives underpinning this partnership are multifaceted, aiming to cultivate a stronger investment climate. These include the establishment of closer cooperation to enhance economic, technological, and investment ties; the exchange of pertinent economic and commercial intelligence regarding investment opportunities, within the bounds of legal frameworks; the fortification of bilateral investment relations through collaborative efforts; and the proactive promotion of investments and dissemination of relevant activities to deepen overall economic engagement between the parties.

“Today’s signing of the Cooperation Agreement between KEPSA and KenInvest is more than just a formal commitment; it is a testament to our shared vision and dedication to driving sustainable investments,” remarked Ms Carole Kariuki during the signing ceremony. Ms Kariuki also reiterated KEPSA’s commitment to fostering a conducive business environment that attracts and retains investors.

To achieve these objectives, KEPSA and KenInvest will engage in strategic cooperation across several key domains. In the realm of Investment Promotion, joint initiatives will be undertaken to attract and retain both domestic and international investors through the organization of investment forums, trade delegations, networking events, and exhibitions designed to showcase Kenya’s diverse investment potential.

Speaking during the meeting, John Mwendwa, CEO for KenInvest, said, “This partnership marks a significant step towards creating a more competitive and attractive investment destination in Kenya.” He further added that by working closely with KEPSA and other key stakeholders, we are confident that we can unlock the full potential of the private sector and drive sustainable economic development.”

Recognizing the critical role of the business environment, the partnership will focus on policy advocacy and business environment enhancements, collaboratively working to influence policies that improve Kenya’s ease of doing business. This will involve streamlining regulations, reducing investment barriers, and cultivating a transparent, predictable, and investor-friendly ecosystem through joint policy engagements, regulatory reforms, and constructive public-private dialogues.

A key component of the collaboration will be the KEPSA Market Intelligence Hub and Kenya Investment Single Window, where the two entities will partner in its implementation, promotion, and operationalization. The two will serve as a strategic instrument for enhancing investment facilitation and informed decision-making in Kenya, encompassing data sharing, investor support, stakeholder engagement, capacity building, and system integration, all under the guidance of a joint working group.

The signing of this cooperation agreement represents a significant stride towards a more unified and effective strategy for investment promotion and overall economic advancement in Kenya. Both KEPSA and KenInvest are dedicated to a close working relationship to realize the agreed areas of cooperation and contribute substantively to the nation’s economic transformation.

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