World Bank report flags regulatory uncertainty as drag on Kenya's business environment

A report by the World Bank shows that Kenya’s business environment remains constrained by regulatory uncertainty, high compliance costs, and governance weaknesses, costing the country billions of shillings in missed investment opportunities. The report, dubbed Country Private Sector Diagnostic, further shows that despite devolution creating opportunities to strengthen local economic development, it has also introduced complexities for firms operating across counties through inconsistencies in county level taxes, fees and regulatory requirements. The report, which sampled three sectors, outlines ways that the country can turn this trend around for tangible development. Jimmy Mbogoh has more.