Lmao 90% of this money goes back to the VCs. Plus 100% of it is held in startup banks like Mercury which are based in the Silicon Valley. What comes into the country is the meagre salaries that token niggas earn which is a few thousands above the national average. Hii pesa haijawai have any serious impact on Kenya and the local population (those startups mainly target expats and foreigners) and a serious government like CCP would ban this bullshit and demand something substantial and not this child play. So huyu mzungu anawank with mythical figures tu bure.
Probably a good place to discuss the ICT bill… How do these two relate?
Does regulation seek to milk this gravy train?
Does regulation help the locals not to be milked by outsiders?
Does it help with oversight?
Is it going to help with revenue so that more VC money is retained by locals?
Most probably, but the funds gained won’t benefit the local ecosystem.
It doesn’t, it just makes people who don’t have degrees to be at an disadvantage. Let me simulia you some hekaya. Some years back, I was fresh from HS and I was couch crashing on some relative place pale Kanairo. I had happened to save some small small 15k from my activities here and there and so I decided let me go get a third hand laptop kutoka pale River road ndio atleast inikeep busy juu I was always alone in the house from morning till evening until when that relative of mine came from work. Well indeed I acquired one. It was some old Toshiba that was quite rundown and very slow. So I mainly used it to watch YT using cheap Airtel bundles and writing $5 content mill articles for Fiverr clients. Since my passion for doing CS was still alive, nilianza kujifunza Python na Java mdogo mdogo hadi nikajua jua some things here and there. So using that knowledge that I learnt nilianza kufanya tasks like data management, web scraping, making bots, web development and such and I would get my $50 in peace. So as I perfected my craft, i had to also look for more formal clients who were paying atleast $250 kuenda juu. So this formal clients ni wale wasee wenye wanakuitisha invoice, tax returns (yeap I had to send them my KRA Pin) and maybe authorization to work. So this ICT bill is going to introduce that authorization to work thingy which would cripple the industry. So imagine a guy like me, fresh from high school who is a self taught “IT practitioner”, I have to register and get a license so that i can be able to practice my craft because some clients (Mostly Western Europeans) won’t hire you if you don’t have that “license”. This in my opinion would stiffle growth and contribute further to the unemployment scourge. Let free market rein.
We have other bodies for that.
No most VCs hate operating in a hostile environment and that would impact funding.