Nairobi is home to East Africa's leading financial hub, providing an efficient gateway for investors and businesses to access 54 African countries, 1.3 billion people and a combined GDP of $3.4 trillion.
The Nairobi International Financial Centre has been established to attract responsible, ambitious businesses to Nairobi and provide them with the conditions to flourish in Kenya and in the region. The Centre offers a progressive legal and regulatory framework, competitive operating environment, a vibrant financial ecosystem and the opportunity to live in one of Africa's most exciting cities. NIFC firms benefit from efficient doing-business facilitation services provided through the Authority and a dedicated dispute resolution process, including cost effective and expedicious arbitration process.
Global innovation hub: Kenya is home to 315 fintech startups attracted by the high level of financial inclusion in the country and robust regulatory environment.
Headquarters of the East African Community: The EAC is the most integrated trading bloc in Africa. Since the launch of the Common Market Protocol in 2010, trade between the EAC countries has increased 61% from US$3.72billion to US$5.98 billion in 2018.
Headquarters of the South African Development Community: Foreign direct investment to SADC increased from US$236million in 2017 to UD$ 5.7 billion in 2019.
Headquarters of the Economic Community of West African States (ECOWAS): The West African bloc is comprised of approximately 400 million people that benefit from freedom of movement and economic integration.
Create an efficient and predictable operating framework for firms and investors in Kenya
Deepen local and regional capital markets and create a gateway to the continent's burgeoning opportunities
Position Nairobi as a globally competitive financial services centre, catalyse sustainable development in Kenya and contribute to Africa's economic transformation
Vincent Rague is the co-founder of Nairobi-based private equity company Catalyst Principal Partners, chairman of UAP Old Mutual Kenya, Financial Sector Deepening Africa, and Jambojet Aviation, the low-cost airline and subsidiary of Kenya Airways. He is also a board member of the MTN Group.
James is the executive director of global strategy and advisory firm Dalberg Group, a non-executive director of Old Mutual Group, one of the largest financial institutions in Africa, and One Acre Fund, a non-profit organization that supplies smallholder farmers in East Africa with asset-based financing and agriculture training services.
Jonathan has extensive experience in international financial market organisations and is a member of the Nairobi Securities Exchange Derivatives Market Committee. He has worked as a senior vice president at Hong Kong Exchanges and Clearing (HKEX) where he helped establish and grow OTC Clear, as well as the London Clearing House, part of the London Stock Exchange Group.
Carole is an adviser to the African Development Bank (AFDB) and the former chief operating officer of Africa50, a new investment fund set up by AFDB to focus on high-impact national and regional infrastructure projects, mainly in the energy and transport sectors.
Albert is the director general, budget, fiscal and economic affairs at the National Treasury. Prior to this, Albert served as the director of the Intergovernmental Fiscal Relations Department of the National Treasury.
Janice is managing director of Private Infrastructure Development Group (PIDG) InfraSolutions, a new initiative by the PIDG aimed at increasing long-term infrastructure projects in local currency across Africa and Asia. Prior to this, Janice was the regional director for GuarantCo in East and Southern Africa, which also focussed on closing the infrastructure gap in the region.
Robert currently serves as a chief state counsel at the Office of the Attorney General and Department of Justice in Kenya where his main objective is to negotiate and draft international agreements and treaties, including free trade agreements and investment treaties.
Symon is an assistant director in the State Department of Trade at the Ministry of Industrialisation, Trade and Enterprise Development, where he has led work on a number of strategic initiatives in the trade sector, including engagement on the US African Growth and Opportunity Act, such as the a department he has worked in for the last 26 years.
The National Treasury
Central Bank of Kenya
Capital Markets Authority
Insurance Regulatory Authority
Retirement Benefits Authority
Kenya Revenue Authority
Business Registration Service
Directorate of Immigration Services
The NIFC operating framework is almost complete and we will be open for business very soon. The official launch of the NIFC is set to take place in Q4 2021
Both local and international companies can apply. The NIFC certificate will be granted to any company that meets NIFC's strategic fit test. The Authority will provide a checklist of the required documentation and upon receipt will review and process all applications.
No. All NIFC firms, whether International or Kenyan will receive the same tax treatment. The NIFC will offer incentives that encourage firms to export financial services from Kenya to countries across Africa.
An NIFC firm can set up anywhere providing that it has a certificate from the NIFC Authority. The NIFC will focus on the development of an environmentally sustainable flagship location leveraging the latest innovation and technology for those looking to build a physical presence in Nairobi.
Availability of capital and financing for all sectors of the economy is key for their growth and expansion. Hence given the catalytic effect the financial services sector has on the wider economy, dedicated effort to attract capital will help improve access and reduce the cost of capital available to business in the various economic sectors resulting in increased economic activity.
Yes, it will. But at a much slower rate. The NIFC will accelerate the development of the financial services sector in Kenya. We believe the NIFC will be crucial for Kenya to keep pace with other IFCs in Africa and beyond.