Investors call for a trade-boosting environment in Kenya

Posted on : Friday , 24th April 2015

Business leaders want the government to come up with programmes that can support local innovators and young entrepreneurs to turn their ideas into profitable enterprises.

Meeting in Nairobi over the weekend, the investors also sought incentives for local firms, as opposed to the current focus on their foreign counterparts, as well as give them preference when procuring goods and services.

Studies have shown that many innovations in Kenya die at the infancy stage, where the ideas are supposed to be turned into commercially viable entities.

“It has taken me 18 years to build Keroche because of the numerous challenges. Our local authorities rarely believe in us and I think there is need to build an environment for enabling more companies to come up.

“Why should we go all the way to Europe and America to get investors and give them incentives while our local investors only meet barriers,” Keroche Breweries chief executive Tabitha Karanja said.

She said the business environment was gradually improving and that consumers were gaining confidence in local products.

The forum was organised by Strathmore Business School as it marked its 10th year of training in business and public policy.

Centum chief executive James Mworia said Kenya was well positioned to seize the opportunity of the rapid economic growth that is being witnessed on the African continent.

“With all the investment focus on Africa, we have the opportunity and we need to develop entrepreneurial skills that will allow us take the opportunity. Leadership will be crucial in developing these opportunities that can change Africa from being a wealth supplier to others, to a consumer of her generated wealth,” he said.