Kenya Targets 15 Percent Manufacturing GDP Share by 2027, Invites Global Investors

[00:00:00]Now, Kenya wants to double manufacturing's GDP footprint by 15% by 2027. The government is now inviting global investors to participate in local production, technology transfer, and skills development. According to PS for industry, Dr. Juma Mukhwana, Kenya is positioning itself for a new era of industrial growth anchored on manufacturing, value addition, and regional trade.

[00:00:25]>> In manufacturing, our enterprises need accessible technologies for food processing, metal fabrication, packaging, electrical products, machine tools, and industrial production. Our small and medium-sized enterprises should be able to access these machines that allow them to move from the informal and artisanal production into structured and competitive manufacturing.

[00:00:47]In the automotive and the transport sector, we require stronger local assembly and and manufacturing, production of automobile and motorcycle components in Kenya, diagnostic technologies, electric mobility solutions, and reliable spare parts. Our cooperation under the Belt and Road Initiative, FOCAC, and the newly signed economic partnership framework creates even greater opportunities for Chinese enterprises to expand.

[00:01:13]>> Kenya's industrial landscape is in a state of dynamic transition, with industrialization remaining a key pillar of economic transformation under the government bottom-up economic transformation agenda, popularly known as BETA. Our gross domestic product GDP for the last 1 year >> Now, about the finance bill, the microfinance banking sector has termed multiple provisions in the finance bill passed on Thursday by the parliament as punitive and harmful to the economic growth.

[00:01:46]They say the new policies threaten to inflate transaction costs, increase compliance burdens, and penalize formal employment.