KAM launches Manufacturing Priority Agenda 2019
Kenya Association of Manufacturers (KAM) launched the Manufacturing Priority Agenda (MPA) 2019 under the theme, Closing the manufacturing gap through the Big 4 Agenda for shared prosperity on 5th February 2019.
The Agenda outlines immediate action plans that will yield tangible results in the short term, which will see Kenya’s manufacturing sector close the current gap of 6.6% by 2022, to attain the 15% GDP target under the Big 4 Agenda.
Speaking during the launch, Principal Secretary, State Department for Investment and Industry, Ms Betty Maina noted industrialization is the driving force for any economy.
KAM Vice Chairman, Mr Mucai Kunyiha noted that Kenya to realize its industrialization goals, there is need for deliberate and predictable policy interventions.
The priority areas will be driven under five key pillars which, if strengthened, will realize the manufacturing goals under the Big 4 Agenda. These are;
Competitiveness and Level playing field
Enhanced market access
Pro-industry policy and institutional framework
Government driven SME development
Securing the future of manufacturing industry
The launch of the Manufacturing Priority Agenda marks the first of many events to celebrate KAM’s 60 years of adding value.
KAM, IDB Capital partner to boost SMEs
On 6th February 2019, Kenya Association of Manufacturers (KAM) signed a Memorandum of Understanding with IDB Capital Kenya to provide financial services to Small and Medium Industrial Enterprises in the country.
SMEs contribute 40% GDP to the Kenyan economy. However, in the past few years, the sector has seen limited growth due to lack of resources necessary, such as industrial finances, for expansion.
Speaking during the signing of the MoU, KAM CEO, Ms Phyllis Wakiaga noted that working capital is crucial for SME growth and expansion.
“There is a need for financial service providers and government agencies to develop appropriate financial products to address this anomaly. In addition to providing financial services, this partnership seeks to ensure that SMEs are trained on how to develop business plans that meet the requirements of financial institutions” noted Ms Wakiaga.
IDB Capital Kenya Managing Director, Ms Karen Kandie noted, “There is conclusive evidence from studies that most small and medium scale processors and manufacturers do not have adequate access to credit. This partnership seeks to bridge this gap.”