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AP-National

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

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Published 2:46 PM

By EVELYNE MUSAMBI
Associated Press

NAIROBI, Kenya (AP) — 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.” He said his government has “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.” But critics say his government’s newly imposed taxes will increase the cost of doing business in Kenya, including in the tech sector.

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