American investors reveal why they fear RUTO like hell and are too afraid to even invest in Kenya – This should be a wake-up call

Thursday, April 4, 2024 - American investors are too afraid to invest in Kenya due to President William Ruto’s bad policies.

In a report by the Office of the United States Trade Representative titled Foreign Trade Barriers, US companies cited taxation and government policies as stumbling blocks for foreigners investing in Kenya.

They specified that the 1.5 per cent Digital Service Tax (DST) was a trade barrier for companies and investors involved in digital trade.

The tax is applied to income generated in Kenya from services that are offered on online platforms.

Further, the report listed the Kenyan government's policies on land ownership and inspection of imported goods as other impediments.

The report highlighted that foreigners were not allowed to own land in Kenya except through a lease.

The investors added that the current leasing model was prone to land cartels who take advantage of them.

For investors importing products into the country, it was explained that the process was expensive. 

The investors also asserted that there were multiple inspections by government agencies, which they cited as bureaucracy that deters the timely release and movement of goods.

The Kenyan DAILY POST