President Ruto appoints billionaire Humphrey Kariuki among 12 to National Investment Council

President William Ruto has appointed 12 members of the private sector to the National Investment Council to fully constitute the advisory body.

The 12 selected persons include KCB Group Managing Director Paul Russo, M-Pesa Africa CEO Sitoyo Lopokoiyit and Twiga Foods CEO Peter Njonjo.

Other members of the council include Ahmed Farah, Karen Taylor, Sarah Ochieng, Eva Warigia, Sheila Kyarisiima, David Langat and Tom Mulwa.

Billionaire businessman Humphrey Kariuki and Francis Njogu also make the list of 12.

The appointees are expected to primarily advice government agencies on ways to increase investment and economic growth in the country.

The 12 are also expected to promote cooperation between the public and private sectors in the formulation and implementation of government policies relating to the economy and investment.

The National Investment Council is founded under the Investment Promotion Act and is Chaired by the President or a Minister designated by the President.

Other members of the Council include the respective Cabinet Secretaries for finance, trade & industry, agriculture, lands, tourism and environment.

The Chairperson of the Kenya Investment Authority and the Central Bank of Kenya (CBK) Governor also make up members of the Council.

The council is expected to monitor the economic environment to identify challenges to investments and economic growth and propose incentives to promote investment and economic growth.

The council is also tasked with identifying areas that may not be benefiting from economic development and consult with persons from both the public and private sectors to obtain views for promoting investment and economic development.