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Billionaire Humphrey Kariuki among 12 National Investment Council members

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Billionaire businessman Humphrey Kariuki who bitterly fell-out with the previous regime of retired president Uhuru Kenyatta has been appointed as one of the twelve members of the National Investment Council for a period of three years.

Other members include; KCB Group Chief Executive Officer Paul Russo Ahmed Farah, Karen Taylor, Sarah Ochieng, Eva Warigia, Shaila Kyarisiima, David Langat, Sitoyo Lopokoiyit, Tom Mulwa, Peter Njonjo and Francis Njogu.

They were appointed by President William Ruto to the council through a gazette notice dated today, December 1, 2022.

Kariuki has had a protracted legal tussle with the Kenya Revenue Authority (KRA) over taxes due.

The Council which was established under the Investment Promotion Act has not been operationalized since presidential assent on December 31, 2004.

According to the act, the Council is mandated to advise the Government and government agencies on ways to increase investment and economic growth in Kenya and to promote co-operation between the public and private sectors in the formulation and implementation of government policies relating to the economy and investment.

The Council is also expected to support the government in its economic recovery plans by identifying challenges facing both local and foreign investors and propose incentives for economic growth.

It will also monitor economic development in Kenya to identify areas that may not be benefiting from economic development and consult with persons from both the public and private sectors to obtain views and suggestions for promoting investment and economic development.

 

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