NAIROBI, Kenya, Sep 10 – President William Ruto has reaffirmed Kenya’s commitment to creating a predictable and investment-friendly business environment as the American Chamber of Commerce (AmCham) Business Summit 2026 opened in Nairobi.
Ruto said the government was implementing reforms aimed at reducing regulatory bottlenecks, improving licensing, protecting investments and making it easier for businesses to navigate public institutions.
“This Summit convenes at a defining moment. Global capital is seeking new frontiers; businesses are reconfiguring their operations and supply chains, and Africa is emerging as the world’s next major horizon for growth,” Ruto said.
“Ultimately, predictability is the product Kenya is pitching. Capital moves when the rules are clear, licenses are issued on time, verified refunds are paid, contracts are respected, and agreed terms do not change halfway through an investment.”
The President highlighted reforms undertaken since the 2023 AmCham Summit, including the removal of VAT on exported services, changes to tax refund rules, reforms to employee share taxation and removal of the 30 percent local equity requirement for major technology firms.
Ruto said Kenya’s foreign direct investment had increased from $1.5 billion in 2022 to a record $3.2 billion last year.
He added that nearly 100 Special Economic Zone enterprises licensed over the past four years had created 22,000 industrial jobs.
Ongoing reforms include implementation of the County Licensing (Uniform Procedures) Act, the proposed Investment and Export Promotion Bill, a digitised Investment One Stop Centre and measures to simplify business compliance requirements.
Ruto said US companies had committed more than $600 million in new projects since the previous summit in 2024, citing investments by Oracle, Coca-Cola, Mars Wrigley and SC Johnson.
He also said Ford was exploring investment opportunities in Kenya, particularly in manufacturing and regional production.
Critical minerals were identified as another potential area of investment, with the government seeking capital for extraction, processing and downstream manufacturing of resources including rare earths, titanium, graphite and lithium.
Ruto also welcomed the recent extension of the African Growth and Opportunity Act (AGOA) to December 2028, saying Kenya’s long-term goal was to build a more reciprocal and mutually beneficial trade relationship with the United States.
Speaking at the summit, US Assistant Secretary of State for African Affairs Frank W. Garcia Jr. described Kenya as a strategic gateway to the African market.
Garcia said US policy towards Africa was shifting from a model centred on aid towards greater emphasis on trade, investment and commercial partnerships.
He said the Trump administration and the US State Department had helped close 50 transactions worth $28.2 billion across sub-Saharan Africa.
“Africa is not a footnote; it’s a gateway to a US$3.4 trillion market, and Kenya is leading the way. We look forward to taking our balanced trade relationship to the next level,” Garcia said.
AmCham Kenya Board President Angela Ng’ang’a said progress had been made in improving the business environment but called for further reforms to sustain investor confidence.
She identified completion of work on VAT refunds and transfer pricing, harmonisation of economic zones and development of new sectors such as sports as priorities.
Ng’ang’a also called for a high-level reform tracker to provide a standing mechanism for AmCham and the government to review progress and resolve business concerns.
During the summit, US Embassy Chargé d’Affaires Susan Burns announced several agreements and initiatives, including an $80 million data centre investment by Digital Realty in Nairobi.
Other initiatives include a blockchain-powered mobility financing platform developed by US companies Telecoin and Power Hive, deeper cooperation between Kenya and the US on cargo screening and customs enforcement, and increased bilateral engagement in creative industries and cybersecurity.
The US Department of Agriculture will also fund a new five-year, $19.2 million project to improve access to affordable and high-quality livestock feed in Kenya.
The initiative will be implemented by Counterpart International in partnership with Rootooba, the Association of Kenya Feed Manufacturers and the State Department for Livestock Development.
The two-day AmCham Business Summit is focused on increasing investment, strengthening regional value chains, creating jobs and expanding trade between Kenya, the United States and the wider region.
