Kenya's Startup Bill will give tax break to startups

Points clés à retenir

Kenya is currently facing challenges in providing employment opportunities for its youth, a significant portion of whom are unemployed. Given the scarcity of job opportunities, President William Ruto is optimistic that fostering the growth of young Kenyan entrepreneurs and startups will contribute to improving the country's employment rate and sustaining economic growth. In the context of Africa's tech ecosystem, there have been past tensions between tech stakeholders and government officials due to a lack of well-defined rules and regulations governing the ecosystem. The introduction of Startup Bills is anticipated to create a conducive environment for startups in the country. The Big Tent approach, involving relevant parties in the startup ecosystems and government officials during the development and approval of these bills, is expected to play a crucial role. The architects of the Startup Bills envision bringing about change in four key areas: capital, regulation, infrastructure, and talent. This comprehensive approach aims to address various challenges and facilitate the growth of the startup ecosystem in Kenya.