US Advisor criticises Kenya’s business policies
A US Risk Advisor critical business policies in Kenya terming them as opaque and contradictory
A US Risk Advisor critical business policies in Kenya terming them as opaque and contradictory.
American risk advisor Declan Galvin based in Kenya has raised concern over the regulation of businesses in Kenya, observing that some of the policies in place are sometimes opaque and contradictory.
Declan Galvin. who is the Managing Director of Exigent Risk Advisory, said Kenya has been creating new regulations rapidly without thoroughly scrutinizing the existing environment and without retiring existing policies.
Galvin, speaking during an interview with Spice FM, questioned why the Kenyan business space is regulated more than the US, which he argued, more often than not, discourages investors.
“It is an enormous frustration for business especially if they are bringing capital in,” stated Declan while giving examples to justify his point.
The US Risk Advisor further explained that the taxes instituted by the Government rapidly may affect the predictability and projections of businesses for both local and foreign start-ups which is essential for organisations.
To that end, Galvin called for progressive implementation of regulations to allow businesses to adjust operations.
A video of President Ruto speaking to a little girl who went viral for crying over schools reopening
Safaricom issues statement over network outage in Kenya
Pastor Ezekiel prophesies death of a Kenyan politician
Judiciary unveils new system of punishing petty offenders
Why Kenya is facing internet downtime
Three former governors to be arrested; EACC
German donates Ksh100 million to Kenya for flood response
Church ordered to pay resident Ksh 5m over noise pollution
“If we revise those rapidly overnight or in course of the month as opposed to phasing them out, say this will be a new thing in twelve months or in twenty-four months this will come into place, that creates a certain degree of uncertainty whether you are a Kenyan business or a foreign corporation,” elaborated Declan.
However, despite criticising business policies within the country, Galvin explained that Kenya remains at the helm of investment opportunities in Africa.
The risk advisor heaped praises on the country stating that Kenya has excelled in forging strong bilateral relationships with Western nations instead of predominantly relying on aid.
His criticism came in the backdrop of the debate surrounding the proposed Finance Bill, 2024 which seeks to introduce new taxes.
Also read,
Form two girl rescued after being held hostage by a boda boda rider
A multimillion company of a former Mt Kenya MP set for auction
Parliament committee save CS Linturi from impeachment over fake fertiliser
About 2000 schools to remain closed; government says
First patient to get genetically modified pig kidney transplant dies
Body of a masters university student found decomposing inside hostel
DP Gachagua to lead the campaign for one man one shilling
Follow us
