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Sh1.7 trillion investments were required in Kenya per year

By Lee Mwiti

In order to achieve its goal of 10% growth rates in the next fourteen years, Kenya needs investments worth Sh1.7 trillion per year. This is equivalent to 32 % of the current gross domestic product each year in Kenya. 

According to Kenya Private Sector Alliance (Kepsa) Director Nick Nesbitt, these funds should be channelled into key productive sectors, such as agribusiness and infrastructural development, for maximum impact. 

KEPSA is the private sector apex and umbrella body set up in 2003, to bring together business community in a single voice to engage and influence public policy for an enabling business environment. The Kenya Private Sector Alliance (KEPSA) is a limited liability membership organization. With current membership of over 100,000 direct and indirect members organised through Business Membership Organizations and Corporate members, KEPSA is a key player in championing the interests of the Kenyan business community in trade, investment and industrial relations.

Mr Nesbitt was speaking during the recently concluded Speaker’s Roundtable forum between Kepsa and Parliament to discuss ways to improve the country’s business environment. Mr Nesbitt said the country could easily mobilise the required resources if a supportive business environment is upheld by the Government.
 “We need a more competitive local economy. More importantly, we can mobilise the right amount of investments and increase our competitiveness if our politics does not balkanize this country and affect our businesses adversely,” he said.

“Yes, we could have all the right laws to achieve the most conducive of business environment, but rules are only half the story; effective implementation is the other half.” Kepsa CEO Carole Kariuki added that the Speaker’s Roundtable was an important platform for interrogating legislation and ensuring it supports Kenya’s economic development and transformation.

“Last year was significant following the enactment of four key business reform Bills: the Special Economic Zones Act, Companies Act, Business Registration Service Act, and the Insolvency Act,” she said. Ms Kariuki attributed this to a shared desire with legislators to secure and promote the country’s competitiveness. “There was a healthy interaction and exchange with the National Assembly over a significant period of time,” she said.

Genatally speaking, these investments in Kenya should be put into key productive sectors, such as agribusiness and infrastructural development, for maximum impact. 

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