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In San Francisco, Kenya's president woos American tech companies despite increasing taxes at home

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Kenya’s president is wooing American tech companies, promising a business-friendly environment — even though he has raised taxes on businesses at home

President William Ruto made the appeal in an address to leading U.S. technology companies and investors on Friday in San Francisco, highlighting investment opportunities in his country and lauding his government’s “strategic priorities.”

But critics say that his government’s newly imposed and also several proposed taxes will increase the cost of doing business in Kenya, including in the tech sector. The government had projected it would rake in billions in the local currency, the Kenyan shilling, from the doubled digital services tax, but critics warned it would discourage tech investors.

 

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In San Francisco, Kenya's president woos American tech companies despite increasing taxes at homeKenya’s president is wooing American tech companies, promising a business-friendly environment — even though he has raised taxes on businesses at home.
Source: AP - 🏆 728. / 51 Read more »