Political Reforms Will Attract Investors – U.S. Envoy

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TradeInvest Africa (Cape Town) 28 April 2011 A new and modern business registry launched in Liberia will reduce the time, cost and compelexity associated with registering a business. The project, a partnership between the government of Liberia and Investment Climate Facility for Africa (ICF), aims to reduce the number of procedures required to register a business from 12 to five, the time needed from 68 to 20 days and the cost from US$819 to US$119. The project was achieved with technical assistance from the International Finance Corporation (IFC)


The Nation (Nairobi)

27 April 2011


Nairobi — The United States Government wants the business community to push for political reforms to attract foreign investment.

There was need for massive reforms to achieve economic development, outgoing ambassador Michael Ranneberger told a breakfast meeting he hosted for women entrepreneurs’ at his residence on Wednesday.

Kenya has never experienced this moment of transformation, he said, but added, “we still need more in addressing fundamental issues though there has been progress in the police, electoral and Judiciary departments.”

The US, currently Kenya’s biggest donor country, has had its envoy caution the political elite over corruption and poor leadership.

Mr Ranneberger said that the US would empower the business community, women and the youth to push the reform agenda.

“We have a group of innovative women entrepreneurs and the youth who hold key to the future of the country and should thus be the focus of reforms.

“Kenyans must also push for passage of relevant laws for smooth running of the 2012 General Election,” the envoy said.

Mr Ranneberger said that despite President Obama and Secretary Hillary Clinton being supportive of women issues in Kenya, there was a disconnect even though the Constitution had provisions that catered for such.

“Women face many challenges and they have not yet got a stable ground for themselves in this country. But with the new Constitution in place, all women entrepreneurs and leaders need to push for their agenda.”

He said supporting women and youth would lead to a stable and economically developed country.

“The US remains committed to invest in women and girls and to the leveraging public-private partnership to increase innovation and encourage transparency, good governance and accountability,” he said.

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Political Reforms Will Attract Investors – U.S. Envoy