Unpredictable business policies, double taxation and pending bills have adversely affected investment in the counties, a trend that is also affecting Kenya’s economic growth.
This is according to Kenya Private Sector Alliance (Kepsa) CEO Carole Kariuki who said that double taxation in the devolved units is as a result of non-implementation of laws in place.
“We have the Counties Bill. It is not that the law is not there but what we are seeing is that the counties have chosen not to put them into consideration and that is why we want to involve the Senate to help us in the oversight process,” said Ms Kariuki during a round table with Senators, adding that taxes have scared away businessmen.
Kepsa chairman Nick Nesbitt said there was need for Senators to push implementation of the relevant laws for the sake of the country’s economy.
“We need the support to have investors venture into the counties. The counties are the ones to implement the Big Four Agenda which the government is seeking to achieve,” he said.
Senate Speaker Kennedy Lusaka noted that the Senate is committed to repealing repugnant laws and to amend existing ones to address challenges facing investors.
“Pending bills have frustrated stifled and discouraged private sector activities and investment in counties…As a Senate, we must play a more proactive and significant role in overseeing the policy and legislative framework that will support successful implementation,” he said.
Mr Lusaka emphasised on the need for governors to have candid discussions on the formation of regional blocs to ease doing business and harmonise levies in respective counties.