Kenya Association of Manufacturers has called for the revival of the sugar industry. This was during the launch of the KAM Sugar Sub-Sector Strategic Plan, which seeks to guide the industry’s growth, resilience and sustainability.
Speaking during the launch, Ministry of Industrialization, Trade and Enterprise Development Chief Administrative Secretary Dr Lawrence Karanja, noted that Government remains committed to reviving the sugar industry.
Manufacturing Small and Medium Enterprises (SMEs) have today called for financing to enable them take advantage of opportunities in the Africa Continental Free Trade Area (AfCFTA).
NCBA Bank Kenya PLC has today partnered with Kenya Association of Manufacturers (KAM), to enhance the development of Manufacturing SMEs in the country.
The two-year deal will see the lender and KAM support 300 Manufacturing SMEs. This shall be done through capacity building programs to address some of the challenges facing local Manufacturing SMEs. Through the partnership, the two institutions shall also provide financial solutions and promote market access through exhibitions, regional and international trade missions.
The High Court has today granted an injunction against the implementation of the Minimum Tax.
Justice George Odunga sitting in Machakos stated that, “... I grant conservatory orders restraining the 2nd Respondent (Kenya Revenue Authority) whether acting jointly or severally by itself, its servants, agents, representatives or howsoever otherwise from the implementation, further implementation, administration, application and/or enforcement of Section 12D of the Income Tax Act, Chapter 470 of the Laws of Kenya as amended by the Tax Laws (Amendment) (No.2) Act, 2020 by collecting and/or demanding payment of the Minimum Tax pending the hearing and determination of this Petition.”
Manufacturers have urged Government to harmonize laws, policies and regulations, at the National and County levels, to drive the competitiveness of local industry.
This was during the launch of the Regulatory Audit Report, 2020 that highlights regulatory challenges facing the business community across the country.
Manufacturers have been encouraged to trade on the stock market to stimulate liquidity for their businesses.
Through a campaign dubbed Ring it for Manufacturing, KAM in partnership with Nairobi Securities Exchange (NSE) will provide a platform for manufacturers to engage, in order to increase the number of local entities listed in the stock exchange as well as increase the participation of manufacturers in stock market trading.
Kenya Association of Manufacturers (KAM) has called for a sector-specific approach to resolve the challenges hampering the growth of Kenya’s manufacturing sector.
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