Nairobi, Jan. 28 -- Kenya has ring-fenced a fraction of the more than Sh5 billion collected annually from the tourism levy to partly repay private investors in hotels and commercial facilities for the ongoing development of Bomas International Convention Complex (BICC).

The Tourism Fund has committed at least 4 percent of the collections to service long-term repayments to investors participating in the hospitality and commercial components of the project, designed to reposition Nairobi as a competitive regional conferencing hub.

The Tourism levy is set at the rate of 2 percent of the gross receipts derived from the monthly sale of food, drinks, accommodation and all other services in all regulated hotels, restaurants and other tourism a...