KEPSA hosted the Members and Partners End Year Cocktail on 15^th December 2023 in Nairobi. The event presented an opportunity for the larger KEPSA fraternity to reunite, forge new relationships and take stock of the milestones while celebrating the achievements of the year under the theme: The Economy, Business and Maintaining the Top Line.

In her opening remarks, Ms Carole Kariuki – CEO, KEPSA, highlighted some of the achievements the organization had realized in 2023 and its new direction for 2024 and beyond. “We have developed a new business strategy that seeks to transform and re-position KEPSA to deliver enhanced value for our members as well as to transform this country into a globally competitive economy for the period of 2023-2027,” she noted.

Ms Kariuki thanked and also acknowledged the critical role KEPSA members play in the transformative journey. She said members’ involvement is pivotal in offering insights, resources and innovation. “You can actively engage in shaping and driving these initiatives, leveraging your expertise to influence policy, contribute to strategic discussions and collaborate in Public-Private Dialogue (PPD) forums,” she urged members while intimating KEPSA’s new address in Two-Rivers starting January 2024, which she said will go with the brand personality and global outlook of the organisation.

The event featured an insightful discussion that interrogated perspectives of the economic landscape with Mr Jas Bedi – Chairperson, KEPSA; Ms Brenda Mbathi – Vice-Chairperson, KEPSA; Ms Mary Ngechu – Director (SMEs & Start-ups), KEPSA; Mr Kiprono Kittony – Chairperson, Nairobi Securities Exchange (NSE); Ms Wambui Mbarire – Vice-Chair, KEPSA Trade and Industry Sector Board; and Mr James Pott - Acting Deputy Chief of Mission, U.S. Embassy in Nairobi.

The chief guest, Hon. Rebecca Miano – Cabinet Secretary for Investments, Trade & Industry thanked the private sector for being resilient and agile in the prevailing challenging circumstances, evidenced by a number of hurdles arising from the emerging global challenges. “Allow me to start by commending the momentous role that Kenya's private sector has played through 2023 in supporting the economic growth and development of our country at a time when the global economy has suffered a seemingly unrelenting recession,” she said.

The Cabinet Secretary also acknowledged various challenges including multiple licensing permits due to duplication of levies at county and national levels. She said that she was leading a team that would develop a business reform action plan to comprehensively resolve trade and investment challenges. “We are undertaking an exercise to look at the costs of doing business. The assignment that I led, that was approved by the cabinet on Wednesday, has been given a maximum of six months to turn around many things and we will be engaging you and listening to you so that together we can come up with an action plan for implementation.” She added.

Hon. Miano was accompanied by Mr Abubakar Hassan – Principal Secretary, State Department for Investment Promotion who said that the focus of the action plan will be to make Kenyan businesses globally competitive. “We are not only looking at reducing the number of licences but also but the time it takes to get those licences,” Said Mr Hassan while adding that the government has identified several barriers and working towards ensuring that the current dwindling Foreign Direct Investment (FDI) trend is reversed.

While moving a vote of thanks, Mr Patrick Obath – Chairperson, KEPSA Foundation, appreciated the collaboration KEPSA has enjoyed from the Government in its policy advocacy agenda. He reiterated the industry’s commitment to work closely with the Government in fostering a conducive business environment that increases Kenya's global competitiveness.