10 July 2017

Kenyan Manufacturers Launch Policy Agenda for Industrialization

Nairobi — Kenya's manufacturers Wednesday launched the Policy Agenda for Industrialization on achieving the economic goals by focusing efforts on the manufacturing sector.

The 10-point manufacturing agenda aims to centralize the economic agenda of this country in current and future political narratives.

Kenya Association of Manufacturers (KAM) CEO Phyllis Wakiaga said the agenda include the need to double jobs, double exports, increase foreign exchange earnings and raise manufacturing share of GDP to 15 percent by 2020.

"The policy agenda will enable Kenyan manufacturers reverse declines of products sales," Wakiaga said. The overall goal of the policy is to create an additional 300,000 jobs in the formal manufacturing sector.

The agenda focuses on sectoral priorities such as: creating a massive export push, raising productivity to world class standards, promoting and leveraging "Buy Kenya Build Kenya," tackling uncustomed goods and counterfeits, and developing a stable policy environment.

Additionally, it makes proposals on job creation through the revamping of technical and vocational education and training (TVET) curriculum in the country and offering apprenticeship.

The bulk of Kenya's manufactured exports are sold to the six member East African Community (EAC) bloc. Government data shows that total exports to the EAC registered a four percent decline in 2016 to 1.2 billion U.S. dollars.

However, manufactured exports to Uganda and Rwanda declined by 9.3 and 2.5 percent respectively. KAM said that export growth is fundamental to the growth and stability of the local manufacturing industry.

Wakiaga said that the share of manufacturing in the Gross Domestic Product (GDP) has stagnated from 1965 to 2015 but it has now declined to a low of 9.2 percent in 2016.

The sector is targeting to double its output so that manufacturing contributes 15 percent of GDP. The CEO said that for the industry to expand, it needs to access more funding at a lower cost.

Manufacturers have identified lack of access to long term finance as a problem. In order to expand access to long term finance for all types of manufacturing firms, the government should increase the availability of domestic public funds.


Confirmed: Toxic Sugar on Shelves

Samples of contraband sugar detained by the police tested positive for lead and copper, and also did not meet the… Read more »

See What Everyone is Watching

Copyright © 2017 Forum on China-Africa Cooperation. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 800 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.