Business registration being reduced to 24 hours

May 13, 2014

, ADAN-MOHAMMEDNAIROBI, Kenya, May 13 – The government is working on making the period of business registration to be 24 hours down from 30 days in the next two months.

Industrialization and Enterprise Development Cabinet Secretary Adan Mohammed says his ministry is working with other government agencies to make it as easy as possible to do business in Kenya.

Mohammed said that his ministry projects to register about 100,000 companies per year.

“What has been difficult in the past has been lack of a central coordination and command to drive this in a consistent manner, it requires some serious transformation on how we do things,” he said.

He said soon, businessmen will be pay for the registration fees via mobile money transfer.

“We are working on getting all the process automated to ease business processes in the country, we are also planning to change some laws in order to be more efficient,” he said.

He says his ministry is also working on increasing the manufacturing industry to 20 percent of Gross Domestic Product in the next five years from the current 11 percent.

He was speaking to journalists on Tuesday when he unveiled the ministry’s road map that comes at a time the country is worsening in ease of doing business global ranking that currently stands at 129 in the 2014 global ranking down from 122 rank in 2013.

The country dropped six points in starting a business ranking to stand at 134 down six points from the 128 position.

The country also ranks number 166 in getting electricity category.

However paying taxes went down five points to rank at 166 from 171 ranking in 2013.

Latest Articles

Live prices

Stock Market

Most Viewed