KEPSA participated in the Ministry of Investment, Trade and Industry Stakeholders Meeting held from 23^rd - 27^th September 2024, at the Pullman Hotel in Nairobi. The primary focus of the meeting was to identify policy and legislative barriers that hinder business growth by creating an uncompetitive business environment.

In his remarks, Mr. Abubakar Hassan Abubakar, Principal Secretary of the State Department for Investment Promotion, committed to ensuring that the issues raised during the meeting are incorporated into the Business Reforms Amendment Bill and the Finance Bill. He emphasized that the partnership between the public and private sectors in promoting pro-economic growth policies was essential to sustaining Kenya’s ability to attract and retain investments. Mr. Abubakar also urged the private sector to engage with the government through platforms such as the National Investment Council and the Investment Promotion Committee to monitor the implementation of actions arising from the stakeholder meeting. Additionally, he announced the development of a National Investment Strategy, which will serve as a framework for future investment legislation.

Dr. Juma Mukhwana, Principal Secretary of the State Department for Industry, challenged participants to review the manufacturing value chain. He proposed enhancing the subcontracting model to ensure all players in the manufacturing sector are involved, which would improve product quality and increase demand for exported goods. It was further noted that a single window management platform, supported by TradeMark Africa, would soon be launched to track the implementation of business reforms and provide alerts to relevant ministries and agencies on the actions needed.

Representing KEPSA, Ms. Wambui Mbarire, Vice Chair of the Trade and Industry Sector Board and CEO of RETRAK, stressed the need to strengthen local products to scale them for export. She called on the Ministry to focus on five key drivers of competitiveness: logistics, finance, raw materials, infrastructure, and productivity. The issues raised by KEPSA during the meeting cut across these five drivers, and addressing them would significantly improve Kenya's competitiveness and enhance the country's position in the Global Competitiveness Index, where Kenya has remained stagnant between positions 91 and 95 out of 140 countries since 2016.

In his keynote address, Cabinet Secretary Hon. Salim Mvurya acknowledged the strong partnership between the government and the private sector and affirmed the Ministry’s commitment to addressing the burdensome procedures and costs that hinder business growth. He highlighted the tax regime as the most significant obstacle, citing issues such as multiple levies, fees, charges at the county level, and delays in VAT refunds. The CS confirmed that the Ministry would develop a business reforms action plan and hold quarterly meetings to track progress.

The Stakeholders’ Forum was sponsored by the European Union through TradeMark Africa, which also participated in the engagement.

To access the KEPSA memorandum presented at this meeting, please click here. In case you have any additional inputs you are encouraged to share them through the email; mitireforms@miti.go.ke