Kenya will scrap a law requiring foreign telecommunications investors to have local partners because it has choked funding for the fast-growing sector, the government said yesterday.
Previously, foreign firms that wanted to invest in telecoms projects in east Africa's biggest economy needed to find Kenyan partners who would own between 20-30% of any venture.
"This rule is messing us up in terms of investments. There are large companies which want to invest in this country without partnering with other individuals," Bitange Ndemo, permanent secretary at the Information Ministry, said in an interview.
