The government has affirmed its commitment to revising the taxation system, aiming to encourage more Kenyans to enter the manufacturing industry.
This was announced by Dr Juma Mukhwana, Principal Secretary for the State Department of Industry, during his visit to the East African Cables (EAC) headquarters in Nairobi.
Dr Mukhwana emphasized the state’s determination to execute strategies that will catalyze the growth of the manufacturing sector. He underscored the importance of crafting policies that shield the local market from an influx of substandard goods.
He stated, “Importing products from abroad does not alleviate the cost of living. Every import signifies a job opportunity shipped overseas. The key to lowering the cost of living lies in producing and selling most of our consumed products locally. Local manufacturing plays a crucial role in creating jobs and ensuring sustainable livelihoods for our citizens.”
During his visit, Dr Mukhwana, accompanied by representatives from the Kenya Association of Manufacturers, discussed the obstacles confronting the Kenyan manufacturing sector and the government’s ongoing initiatives to tackle them. Issues such as illicit trade, unfavorable taxation policies, and high electricity tariffs were among those addressed.
Commenting on the visit, Paul Muigai, EAC Managing Director, said, “The PS visit provided us with a valuable platform to shed light on the current challenges faced by local manufacturers. Our sector is ready to significantly contribute to national progress through the production of high-quality products. These not only align with governmental goals like affordable housing but also bolster the economy through job creation and tax generation.”
Also present at the event were Mr. Ngángá Njiinu, CEO of TransCentury Group (EAC’s parent company), and Board Members of East African Cables (plc) Limited. EAC recently invested USD 35m to boost its production capacity to 750 MT and 800 MT of copper and aluminum cables respectively.
Related Content: Local Manufacturers Showcase At KICC Seeks To Spur Economic Growth
