The American Chamber of Commerce Business Summit was
held on 29 and 30 March 2023 in Nairobi. The objective of the
Business Summit was to provide a strategic platform for
strengthening two-way trade and investment between the US and East
Africa though unleashing the power of private enterprises in
driving long-term economic ties, enhancing trade, and promoting
investment.
In President Ruto's keynote speech at the Business Summit,
the President had highlighted various fiscal policy changes which
would be expected in the Finance Bill 2023 and the Budget Policy
Statement.
The proposed changes are highlighted below. These positive
proposals are clearly indicative of the current
administration's commitment to introducing these legislative
changes to Parliament through the provisions of the Finance Bill,
2023. The Finance Bill, 2023 will need to go through a public
participation process prior to enactment into law by the
Parliament. Therefore, it should be noted that
