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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.”

"We have eliminated value-added tax on exported services and the tax on stock-based compensation for employees of startups, as well as the domestic equity requirement for ICT companies,” he said. His administration in its first budget this year doubled the digital service tax to 3%, targeting foreign tech giants that use the internet to market and sell products.

Ruto insisted his country was positioning itself as “Africa’s business process outsourcing and creative economy hub,” citing internet penetration and a growing workforce.

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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.
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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
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