The Kenya Private Sector Alliance (KEPSA) has reaffirmed its commitment to improving the ease of doing business in Kenya and the region.
The pledge was made at the commencement of the Ministry of East African Community’s Doing Business 2022 Action Plan Development Workshop.
“In this last decade to the Vision 2030, it is crucial that we focus on private sector driven economic transformation to achieve our target of a rapidly industrializing middle-income economy.” Martha Cheruto, KEPSA Deputy CEO.
Martha emphasized on the need to take advantage of the numerous opportunities that have arisen at the local, regional, and international levels for local enterprises to thrive.
KEPSA has succeeded to develop excellent cooperation and interaction platforms across all levels of government since its inception in 2003. It recognized the Doing Business Index (DBI) as a critical indicator for business in Kenya in 2014, and President Kenyatta committed to offer a suitable climate for the private sector to prosper during the 2014 Presidential Round Table.
Kenya was ranked 136th out of 190 nations at the time, based on the country’s proactive approach to addressing business difficulties.
Kenya has made significant progress, now ranking 56th overall and third in Sub-Saharan Africa.
This has been made possible through the implementation of initiatives that promote company growth and the country’s social-economic development, as well as ongoing Government-Private Sector interaction on cross-cutting policy problems influencing private sector development.
Cabinet Secretary for East African Community and Regional Development Adan Mohamed noted that Kenya is making progress, as seen by greater investment in the creation of suitable and efficient infrastructure, which has allowed Kenya’s economic environment to continue to improve.
“I particularly urge the County Governments to find sustainable solutions to enable businesses to operate easily within their respective counties, especially those with branches across the country.” Adan Mohamed.
Despite a setback in 2020 with the ongoing Covid-19 epidemic, the administration has remained dedicated to the reform program to make enterprises easier to do business with and to boost investment attractiveness. Polycarp Igathe, Equity Group Holdings’ Chief Commercial Officer, praised the government’s efforts and achievements in strengthening Kenya’s business environment.
The private sector’s pledge comes only a year before Kenya’s ambitious 2022 goal of ranking in the top 50 countries.
To do this, KEPSA will continue to provide businesses with training, networking, financial linkages, mentorships and coaching, market access, value chain growth, and investment opportunities through global partners.