Double taxation to be abolished to attract foreign investors, Uhuru Kenyatta says

President Uhuru Kenyatta has said the Government is working on the country’s tax system to make it more friendlier to investors.

President Kenyatta said double taxation and other barriers that inhibit foreign investment will be removed for the country to retain its rightful position as the regional business hub.

The President spoke when Coca Cola International Chief Executive Officer Ahmed Bozer called on him at State House Nairobi on Tuesday.

“We must be attractive to investors if as a country, we are to remain as the destination of choice for investment in the region and Africa,” he added.

The President assured Coca Cola and other investors of the Government’s total commitment to partnerships of mutual benefit to ‘us’.

He particularly commended the beverage company for venturing into mango juice production, thereby providing the much needed market to fruit farmers in the country.

The President said Kenya has tremendous potential for fruit production but lacked ready market for mangos.

The company has already mobilized 37,000 local mango farmers to produce the fruit and is planning to expand the partnership for sustainable manufacture of its branded products, its CEO told the President.

President Kenyatta acknowledged initiatives by the soft drinks company to empower women and youth through a programme known as 5by20. Under the programme, Coca Cola plans to empower 5 million women through its global value chain by 2020.

Mr. Bozer said the company is exploring the viability of sourcing from Kenya mango fruit for its global chain supply.

“Kenya is one of the countries we are considering as a mango supply point in Africa. Coca Cola believes that Africa can be a global supply point for our ingredients,” Mr. Bozer said.