Bad News To Foreign Investors As Parliament Plans The Following

The Parliament of Kenya is considering a proposal to make investment permits mandatory for foreigners in Kenya.

This aims to:

—Close loopholes in current law allowing foreigners to avoid permits.
—Ensure compliance with investment regulations.
—Address concerns about unfair competition from some foreign businesses.

Currently, the Investment Promotion Act requires a minimum investment of $100,000 from foreigners, but obtaining a permit is optional. This has been allegedly exploited by some.