Nairobi, April 21 -- After two decades, the Investment Promotion Act is due for an overhaul and the Investment Promotion and Facilitation Bill 2023 is the result.

The Bill has been the subject of debate as we assess whether it goes far enough to attract impactful investments while shielding us from bandits masquerading as legit investors.

On the credit side of the ledger, the Bill provides for investors injecting capital above $ 500,000 for foreigners or Sh5 million for locals to apply for an investment certificate, which should take no more than 20 working days to obtain.

Once certified, investors are primed to expediently receive the licences indicated on their certificate. If a licence is not issued within 12 months of the certifica...