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CBK woos Kenyans abroad with investment incentives
Tuesday April 06 2021
By CONSTANT MUNDA
Summary
Central Bank of Kenya (CBK) is looking at developing a framework that will offer special incentives to Kenyans abroad who set up businesses back at a home.
CBK partnered with the Foreign Affairs ministry and Kenya National Bureau of Statistics in conducting a poll on the diaspora between January and March 2021.
Central Bank of Kenya (CBK) is looking at developing a framework that will offer special incentives to Kenyans abroad who set up businesses back at a home.
Governor Patrick Njoroge says the findings of a survey the bank ran on Kenyan diaspora and recipients locally will inform the development of a facilitative policy that encourages increased targeted direct investment flows by citizens living and working abroad.
BUSINESS NEWS
CS Treasury and National Planning Ukur Yattani (PHOTO: FILE)
The Covid-19 pandemic might have created an additional 2.5 million poor Kenyans last year, the Cabinet Secretary for National Ukur Yatani said yesterday.
Speaking during a ministerial conclave on human capital, Yatani said the increase in poverty last year by six percentage points was due to the serious impacts of Covid-19 on livelihoods, which was sharp decreases in incomes and employment.
“The new poor are more urban-based, with a higher level of education and are usually working in the service-rather than the agricultural sector,” said Yatani. He was responding to a question on how the Government was using the Economic Recovery Strategy to invest in human capital to spur inclusive sustainable recovery.