Kenya: Nairobi Aims for Financial Centre

Clara Sanchiz/African Arguments
The Nairobi skyline.
17 July 2013
East African Business Week (Kampala)
By Humphrey Liloba

Nairobi — Nairobi is to be transformed into a regional and continental financial hub by the end of the year.

The initiative currently being spearheaded by the National Treasury will look at clearing a number of hurdles that have prevented this happening to date.

According to Finance Cabinet Secretary Henry Rotich, the government is currently engaged in an exercise of completing the necessary policy framework that will support the creation of a financial hub in Kenya.

"Nairobi is well positioned to be the continent's financial hub akin to what is in South Africa. However, before we get to this, a number of policy framework activities need to be undertaken. I am glad to note that we are already working on this hope to complete the same by December," he said.

The creation of the Nairobi International Financial Centre is one of the quick win projects under the National Vision 2030.

Read the original article on EA Business.

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