Kenya's push to become East Africa's leading financial hub has gained momentum as over 50 digital currency firms consider setting up regional headquarters in Nairobi. The firms, including Binance, are attracted by growing adoption and tax incentives offered by the government.
The Nairobi International Finance Centre (NIFC) is at the forefront of this push, engaging with the firms to discuss their plans. The NIFC's chief executive officer, Daniel Mainda, revealed that they are in talks with about 50 companies, both local and international, to set up regional headquarters in Kenya.
The firms will enjoy reduced corporate income tax rates of up to 15 percent for the first 10 years and 20 percent for the next decade, compared with the standard 30 percent. This is part of the government's efforts to attract investment and create jobs.