Ruto assures investors of a conducive business environment

President William Ruto. [PCS]

President William Ruto has assured investors of a conducive business environment in Kenya, noting that the country is open and safe for business, with a robust investment legal framework providing adequate investor protection.

"I want to assure investors that I will go out of my way to make sure that Kenya is stable and safe for investors to unlock their potential in a peaceful environment," he said.

Speaking at the listing of Linzi Finco Trust Islamic secured residential lease security (Linzi Sukuk) on the Nairobi Securities Exchange, Ruto highlighted the government's pursuit of ambitious reforms aimed at transforming Kenya into a regional business hub, ensuring no one impedes the country's progress.

The President underscored that investor confidence is sustained by resilient financial markets and stable macroeconomic indicators.

"To maintain this trend, the government is committed to entrenching a predictable business and economic environment through appropriate policy measures," he added.

Addressing corruption, President Ruto warned that the law will be amended to ensure corruption cases are concluded within six months.

"We will deal with accountability issues with the seriousness they deserve," he stated, adding that misuse of public funds will be dealt with ruthlessly to ensure resources are used for their intended purposes.

He also mentioned that ongoing legal, policy, and economic reforms are aimed at boosting the economy and developing competitive capital markets.

A robust, efficient, and transparent capital market is crucial for providing liquidity and raising the necessary capital to support the overall economic plan.

"To fulfill our manifesto pledges, we have initiated key economic reforms, including in governance, under the Ownership Policy of Government-Owned Enterprises approved by Cabinet in November 2023," said President Ruto.

He noted that this policy will enhance corporate governance and accountability, aligning State corporations with the standards of listed companies.

Significant reforms at Kenya Power and other State enterprises are underway to enhance operational efficiency and governance, thereby restoring investor confidence and ensuring effective leveraging of private capital.

"As we look forward to further integrating public agencies in the securities market through privatisation, we remain dedicated to our goals of job creation and economic development that are crucial in improving the overall quality of the economic environment," President Ruto added.

He encouraged Kenyans to invest in the stock exchange, particularly in bonds, shares, and forex trading, noting that the government is introducing new, diversified, and innovative financial instruments at the NSE to unlock broader investment opportunities in line with the Bottom-Up Economic Transformation Agenda.