Kenya’s national strategic aspirations to be a leading financial investment hub received a major boost from the World Alliance of International Financial Centres (WAIFC), which has formally elected the Nairobi International Financial Centre (NIFC) as a full member of the World Alliance.
The WAIFC is the leading global platform of international financial centres, and acts as a catalyst
for collaboration, fostering financial innovation, and cooperating with international organisations.
The election of NIFC serves to expand WAIFC’s membership and now takes the total members
roll to 21 full members.
Speaking from Frankfurt, Germany, where he is attending the WAIFC Annual Meeting, Nairobi
International Financial Centre (NIFC) CEO, Daniel Mainda, confirmed the full member
election, further describing it as a major milestone. NIFC is a leading financial hub in East Africa,
providing an efficient gateway for investors and businesses to access 54 African countries, 1.3
billion people and a combined GDP of $3.4 trillion.
By enabling businesses to thrive within a conducive, predictable and well-regulated ecosystem,
the NIFC, Mainda said, serves as a gateway for investors seeking access to the vast
opportunities in Kenya and the broader African market.
“The Nairobi International Financial Centre has been elected as a full member of the World
Alliance of International Financial Centres, further cementing Nairobi and Kenya’s national
positioning as one of the leading financial hubs in the world,” said Mainda.
He added, “The World Alliance has boldly reiterated our national philosophy, affirming that this
major milestone strengthens the NIFC’s role on the global stage, connecting Nairobi to other
leading financial hubs across the world and amplifying our mission to position Kenya as the
preferred gateway to investment in Africa.”
To facilitate the institutional establishment of NIFC, the Government of Kenya, through the
National Treasury, has spearheaded strategic reforms, including the Nairobi International
Financial Centre Act, 2021, and key amendments to the Income Tax Act under the 2025/2026
Finance Act. The reforms offer preferential tax treatment to NIFC-certified entities, with a 15%
corporate income tax rate for the first 10 years and 20% thereafter, aligning with the
government’s Vision 2030 and Bottom-Up Economic Transformation Agenda (BETA).
As a member of the World Alliance, NIFC will also join the African Chapter of the WAIFC,
underscoring the Alliance’s commitment to collaborating with other African IFCs to unlock
Africa’s investment potential.
The WAIFC Annual Meeting, happening in Frankfurt, Germany, brings together global
financial sector leaders to shape the future of finance and investment.
In addition to the general assembly, the WAIFC Annual Meeting will feature focused sessions on
key WAIFC projects, including AI in Finance and Corporate Sustainability Reporting.
The World Alliance is committed to promoting cross-border dialogue and collaboration among
financial centres, thereby fostering innovation, resilience, and sustainable growth in the global economy.
