Silverio Omari
President William Ruto has assured investors that Kenya is both open and secure for business, highlighting that the nation’s investment legal framework offers strong protection for investors.
Speaking at the listing of Linzi Finco Trust Islamic Secured Residential Lease Security (Linzi Sukuk) on the Nairobi Securities Exchange, Ruto emphasized Kenya’s commitment to creating a stable and safe environment for investors. “I want to assure investors that I will go out of my way to ensure Kenya remains stable and safe for unlocking their potential in a peaceful setting,” he said.
He noted that the government is implementing ambitious reforms to establish Kenya as a regional business hub and stressed that no one would be allowed to hinder the country’s progress. Ruto highlighted that investor confidence is bolstered by resilient financial markets and stable macroeconomic indicators.
“To sustain this trend, the government is dedicated to fostering a predictable business and economic environment through appropriate policy measures,” he added.
Ruto also addressed corruption, warning that legal amendments will be made to ensure that corruption cases are resolved within six months. “We will address accountability issues with the seriousness they deserve,” he asserted.
The President emphasized that the misuse of public funds will be dealt with severely, underscoring that these resources must be used as intended. He outlined that ongoing legal, policy, and economic reforms are crucial for boosting the economy and developing competitive capital markets.
He stressed that a robust, efficient, and transparent capital market is essential for providing liquidity and raising capital, which supports the overall economic strategy. “To meet our manifesto commitments, we have introduced key economic reforms, including governance changes under the Ownership Policy of Government-Owned Enterprises approved by the Cabinet in November 2023,” Ruto said.
This policy aims to enhance corporate governance and accountability, aligning State corporations more closely with listed companies’ standards. Significant reforms are also underway at Kenya Power and other State enterprises to improve operational efficiency and governance.
Ruto expressed confidence that these reforms would restore investor trust and enable these entities to better leverage private capital. He also encouraged Kenyans to invest in the stock exchange, including bonds, shares, and forex trading.
He noted that the government is introducing new, diversified, and innovative financial instruments at the Nairobi Securities Exchange to expand investment opportunities, in line with the Bottom-Up Economic Transformation Agenda.
Regarding the Shariah-compliant Linzi Sukuk, Ruto stated that it will enhance financial inclusion and broaden market access, aligning with the global trend towards more stable and robust economic growth.
Dj Vnyash
