Kenya: Govt, Private Sector in New Push to Revive the Economy and Create Jobs

19 November 2019

Nairobi — Interior Cabinet Secretary Fred Matiangi has assured of the government's support to aid local businesses in the country to create employment for the youth in the country.

Matiangi says the government, in collaboration with Kenya Private Sector Alliance, is set to implement an action plan, meant to help stimulate the counties.

"We want to go to the county level and see how we can support them and reclaim some of the lost spaces," he said Monday, during a meeting of top government officials and key private sector players who assembled at the Kenya School of Government (KSG).

According to Matiangi, the action plan that focuses on key areas of cooperation including improving tourism and the film industry, among other sectors will boost the economy.

"We will bind ourselves to this action plan to ensure its implementation and where there challenges we address them," Matiangi said, and urged KEPSA to lead the push for more local manufacturing and processing so as to accelerate job creation.

KEPSA CEO Carol Kariuki noted that with a good business environment, the action plan will help in reviving key sectors of the economy.

"We will come up with a list of products made in Kenya and also what can be produced all the way from local to major business," she said.

Kariuki said the Monday meeting was key in changing the narrative created that 'things on the ground are different' through discussions on job creation, revenue generation and increased investment.

Kenya Bankers Association Chairman Joshua Oigara said the difficult job is to work on extending credit to the market, "Total lending is growing at 6pc and I am confident it can grow by 10pc; and the banking loans will not go into 26pc and we expect lending to the private sector to grow by 10pc."

Kenya Pipeline Board Chairman John Ngumi spoke of the need to remain innovative.

"We should be able to be imaginative for us to do business unusual," he said.

Kenya Revenue Authority (KRA) Director-General James Mburu said he has already reduced VAT refunds from 6pc to 2pc in order to ease burden on businesses which are the country's economic drivers.

And following calls from the private sector to have online services in all sectors, ICT Cabinet Secretary Joe Mucheru said assured that measures are in place to ensure even taxes are paid online.

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