Former Deputy President Rigathi Gachagua has announced plans to introduce tax incentives for investors who demonstrate the ability to create jobs in Kenya if elected President. He made the announcement while addressing Kenyans in Dallas, Texas. Gachagua's proposed government would develop a policy linking tax incentives to job creation. Investors are expected to demonstrate their capacity to employ Kenyans. This move aims to attract more investment and encourage businesses to expand their operations in Kenya.
Gachagua provided an example of how the tax incentives would work. He suggested that an information and communications technology company employing at least 100 Kenyans could be allowed to operate without paying taxes for its first five years. This, he believes, would encourage investors to create more jobs. Gachagua also proposed recognising smaller investors. Businesses that create more than 10 jobs should receive attention from the government, he said.
The proposed incentives form part of a broader effort to encourage local and foreign investment. Gachagua also pledged to tackle corruption and reduce bureaucracy, officialdom, and red tape. He believes the government should make it easier for businesses to operate. To achieve this, Gachagua proposed reducing the number of permits required to operate businesses. His administration would seek to establish a single electronic permit system.
Gachagua's proposals aim to make government an enabler of business rather than an obstacle to investment. He wants to ensure that investors do not have to move from one government office to another to obtain licences. A single permit system would simplify the process. This approach is part of his economic pitch ahead of the 2027 General Election.
Job creation, investment, and business reforms are among the priorities Gachagua has outlined for his proposed administration. He is currently in the US on an extended tour. During this time, he is engaging with Kenyans in the diaspora, consulting on his political plans, and building support and networks ahead of the 2027 General Election.
Gachagua's tour also includes spending time with his family. His visit is an opportunity to engage with the Kenyan diaspora and discuss his plans for the country. Gachagua's proposals have been well-received by some Kenyans. They believe his ideas could help stimulate economic growth.
Gachagua's economic plans will likely be closely watched by investors and business leaders. His proposals aim to create a more business-friendly environment in Kenya. The 2027 General Election is still over a year away. However, candidates are already beginning to outline their economic plans.
Key points
- Gachagua promises tax incentives for investors who create jobs in Kenya if elected President.
- The proposed incentives include tax holidays for investors who meet specific job creation thresholds.
- Gachagua also aims to reduce bureaucracy and corruption to make it easier for businesses to operate in Kenya.
