Do government regulations impede doing business in Africa?

With various government rules regarding foreign investment in place, are they negatively affecting potential international investment in Africa? 
For example, the Kenyan government's current regulation stating that the foreign investors for the Second National Operator (telecoms) have to have a 30% local share holding... Although they're looking to 'get rid' of this rule, it seems as though they're just extending the time period for the investors to find local ownership. Is this 'extension' likely to help at all? Or are we just finding new ways to put off the inevitable...?

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