EDITORIAL
08-04-2024 by Freddie del Curatolo
First the entry into the G20, with Africa's most industrialised countries, then the recognition of the European Union through the signing of an agreement that, although spread over several years, will break down many trade barriers, and finally clear pacts with China.
The new course of Kenya and of the government of President William Ruto is proposing a new approach towards foreign countries and, although the public debt is still very high and the loans demanded somewhat from all public and private institutions of the globe will sooner or later return as boomerangs, for now some think they can 'raise the crest'.
It is a bit like when the bank grants you a mortgage and raises the ceiling on your credit card. It is clear that the money has to be used for some investment and that you will have to work hard to pay it back, but in the meantime you want to raise your social status and make yourself look good to friends and family.
So Kenya is now convinced that it can raise the level of foreigners who want to invest or live in the country, and it does so by 'scaring' them off immediately with increases in services and living costs, on top of inflation and the rising price of land, real estate and activities.
For example, the increase in work and residence permits to become residents is official.
For an entrepreneur's permit, it went from 200 thousand shillings for two years, to 500 thousand. For an employee's permit, from 400 to 1 million, and for a pensioner's permit, for example, from 300 thousand for three years to 500 thousand. Increases that come on top of those of many taxes, both national and county level.
For many it means demoralising especially those who have already invested and lived in the country for many years. To them, however, the state (says) offers an alternative, that of becoming Kenyan by taking citizenship.
The cost is no more than 500,000 shillings, but who knows why that is not enough.
These are choices to be made, which certainly do not favour those who have seasonal activities in Kenya, in the field of tourism, those who also have business in Italy, or those who have small businesses that are already struggling to make their way in the growing and competitive Kenyan market.
Even those who intend to move and open a business are not incentivised by these increases, which, moreover, seem to be the tip of an iceberg that could reveal a new philosophy that fits in well with that of the Mattei Plan for Africa launched by the Italian government, namely: 'No to a new colonialism and the predatory logic of the West, yes to multinationals, big business and cooperation that makes local businesses grow'.
It is sacrosanct that Kenya wants to grow its own entrepreneurial class, and small and medium-sized local businesses, and who better than the Italians to help the Kenyan people as they have always done, but it remains to be understood what annoyance an Italian restaurant with 50 covers can give, which in any case employs 20 local employees and trains them in well-paid trades, considering that the more there are, the more fruit vendors, butchers, fishermen and dairy producers work. Certainly not just the foreign owners and importers.
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