The Developer's Digest, January - March 2017 Issue

FOCUS ON POLICY
KPDA WINS
SUMMARY OF THE BUDGET STATEMENT FOR THE FISCAL YEAR 2017/2018
AGENDA 2017/18 AND BEYOND:
CREATING JOBS, DELIVERING A
BETTER LIFE FOR ALL KENYANS
Continuing with Improving the
Business and Investment Climate
Macroeconomic Stability
To support an environment where more
jobs will be created, the Government
is strongly committed to pursuing
prudent fiscal and monetary policies
that support strong economic growth,
ensures price stability and maintains our
debt at sustainable levels.
Our fiscal policy will continue to focus on
prioritizing development expenditures
to support growth, while curtailing
growth of non-productive recurrent
expenditures.
Monetary policy will target to keep
inflation within the target range of 2.5
percent on either side of 5.0 percent.
To further reinforce price stability, our
proposed fiscal policy will help keep
interest rates low and stable and the
exchange rate broadly stable and
competitive to support our exports.
Business Regulatory Reforms
The Government has significantly
reduced the time and cost of opening
and operating a business, thus making
it easier for investors to start and run a
business.
This has been achieved as a result of the
implementation of measures initiated
by the dedicated Business Environment
Delivery Unit at the Ministry of
Industrialisation, and Enterprise
Development.
Kenya’s business environment has
improved remarkably. Over the past
three years, Kenya’s ranking in the
World Bank’s Doing Business indicators
has improved from 136 to 92, largely
due to reforms in getting credit,
getting electricity and ease of starting
a business.
In 2016, we were ranked third out of
the World’s top ten reformers. With the
objective of achieving a rank below 50
in the medium term, we have passed
appropriate legislations and processes
to reduce the time, steps and costs
associated with opening a business,
obtaining construction permits,
single business permits and property
registration.
To further improve our ranking, I have
allocated Kshs. 250 million to support
initiatives to the ease the cost of doing
business.
Today, Kenya is a preferred investment
destination in Africa with many major
companies from across the globe
starting operations in the country. As a
result, foreign direct investment (FDI)
has risen from about US dollar 0.514
billion in 2013, to at least US dollar 2.3
billion in 2016.
In an effort to reduce obstacles that
hinder faster growth of investment, the
Government has established a One Stop
Centre (OSC) for investors which will be
operational by April 2017.
The Government has also established
e-regulation and will soon be
establishing the e-Opportunities to
enable investors interested in Kenya
to search for investment opportunities
available in Kenya from the comfort of
their homes.
These initiatives, in addition to the
existing Huduma Centres, will provide
comprehensive information to investors
on licenses, permits and approvals that
are currently offered in a multiplicity
of Government agencies located
in different parts of the city, further
sustaining increased FDI inflows in the
country.
We are aware of complaints from
our business community of double
taxation of their activities by County
Governments. This is not only bad for our
investment climate but is also a violation
of Article 209 of our Constitution.
Accordingly, I will be making legislative
proposals to Parliament that will set
out how County Governments may
raise revenues without violating the
Constitution and raising the cost of
doing business.
This budget will maximize social benefits
for all Kenyans. It will support industries,
create jobs and improve the quality of
life of Kenyans.
It will also help us realize a cleaner
environment; provide quality social
services (Health and Education), and
enhance access to efficient public
transport.
In sum, it is a budget that carefully
balances on the one hand the need to
reduce the cost of living for the poor
by enhancing social sector spending
while continuing to strengthen the
foundation for long-term economic
growth, job creation and provision of
incentives for rapidly moving towards
industrialization of our economy.
© Budget Statement 2017
To obtain copies of the document,
please contact:
Public Relations Office
The National Treasury
Treasury Building
P. O. Box 30007-00100
NAIROBI, KENYA
Tel: +254-20-2252-299
Fax: +254-20-341-082
The full statement is also available on
the website at: www.treasury.go.ke
BY MR. HENRY K. ROTICH, EGH
CABINET SECRETARY FOR THE
NATIONAL TREASURY
30TH MARCH 2017
THEME: ‘CREATING JOBS, DELIVERING
A BETTER LIFE FOR ALL KENYANS’
The Kenya Property Developers
Association was established in Nairobi in
2006 as the representative body of the
residential, commercial and industrial
property development sector in Kenya.
It is an emerging Business Member
Organisation which works in proactive
partnership with policy-makers,
financiers and citizens to ensure that the
property development industry grows
rapidly but in an organized, efficient,
economical and ethical manner.
1. The Association started with
a membership of less than 30
members and to date has now
grown to 150 members;
2. Following consistent and
combined lobbying with industry
partners and the National
Construction Authority (NCA) ,
the NCA Construction Levy was
scrapped off effective 1st January
2017;
3. Contributes to the excellence
within the industry through the
promotion of world-class practice
standards and sector-specific
educational programs;
4. Our collaboration with significant
market players in the establishment
of the National REITs Association
which will ensure the smooth
implementation of REITs in Kenya
as well market REITs to encourage
foreign investment in the Kenyan
property market;
5. Compiles and disseminates
focused research and analysis to
inform sound policy analysis and
public education;
6. Our strengthened collaboration
with the public sector resulting in
KPDA being nominated into the
Ministry of Land, Housing and
Urban Development Affordable
Housing Contact Group;
7. Committed service to policy
reforms through our participation
on the Kenya Private Sector Alliance
(KEPSA) Land, Housing and Urban
Development Sector Board;
8. Active and successful joint input
into the review of the Proposed
2014-2015 Finance Bill;
9. Established strong ties with
significant industry players
such as the Nairobi City County
Government, the National
Construction Authority, the
Ministry of Transport, Infrastructure,
Housing and Urban Development,
the Upper Hill District Association
(UHDA), the UN Habitat, the Kenya
Private Sector Alliance (KEPSA)
amongst others;
10. Demonstrated our commitment
towards Kenya having a
sustainable, green environment
by our continued collaboration
with the UN Habitat and the Kenya
Green Building Society;
11. The consistent and informed release
of data to our mailing list through
our Media Weekly Review Reports
and our bi-monthly e-newsletter,
The Developer’s Digest;
12. The successful organization of
several events both aimed at
providing professional networking
and educating platforms.
Our mission remains; ‘To promote the involvement of the private sector in
development through advocacy, education, research and ethical standards’
Thank you to the 150 members who continue to share our dream…
Kenya Property Developers Association
Fatima Flats, Suite 4 B
Marcus Garvey Road off Argwings Kodhek Road, Kilimani Area
P. O. Box 76154 - 00508
NAIROBI, KENYA
Telephone: +254 737 530 290/0705 277 787
Website: www.kpda.or.ke
Kenya Property Developers Association... Development brings Development!
Kenya Property Developers Association... Development brings Development!
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