Category: Business

The Chairperson of the Kenya Industrial Estate Board (KIE) Ms. Lilly Ng’ok has emphasised the pivotal role the entity is playing as a financial institution dedicated to nurturing women and young entrepreneurs in the country.

Ng’ok who spoke in Awendo Sub County-Migori during an entrepreneurs training forum that brought together businesspersons across Migori County acknowledged that the training aimed to enlighten and mentor entrepreneurs on how to improve and grow their Small and Medium scale Enterprises (SMEs).

She said that KIE was a financial institution offering loans with low interest to Kenyans strategically placed to ensure that micro small and medium enterprises are supported financially to improve and grow their businesses.

The official noted that one of their key mandates was value addition on products and services, affirming that there was no way the country could create jobs and wealth without embracing industrialisation and processing.

The official however challenged Migori entrepreneurs espe
cially women and youth to apply for the KIE loan funds to empower themselves economically.

‘In comparison with other counties in Nyanza, Migori is the lowest borrower of the KIE financial loan with only Sh11 million disbursed so far as compared to Kisii and Kisumu counties which have a lending borrowing of 69 and 45 Million respectively,’ explained Ng’ok.

Awendo Sub County Assistant County Commissioner Tom Odhiambo commended the efforts by the KIE in sensitising the community on the importance of taking the loans the government was offering.

He called upon the Migori business community to embrace government loans like those being offered by the KIE, Women Enterprise Fund and hustler’s funds to grow their businesses.

The administrator however called upon the KIE to set up an operational office in the county to help reduce the transportation costs of travelling to the neighbouring counties of Homa Bay and Kisii to seeking for KIE services.

‘One of the major impediments we are having in terms of accessing K
IE loan funds in Migori is the lack of an operational KIE office within our county,’ said Odhiambo.

Anne Akinyi, an entrepreneur from Awendo town appreciated the government’s mission and efforts in training and mentoring the business community through KIE.

Akinyi said that a lot of business community members have been prey to conmen masquerading as financial assistants only for them to become shylocks by exploiting their hard-earned profits.

Akinyi also called upon the KIE to establish a new office in Migori to enable them to access loan services to improve their small and medium enterprises for their social economic empowerment.

Source: Kenya News Agency

The Principal Secretary, the State Department for Broadcasting and Telecommunications, Prof. Edward Kisiang’ani, has made an impassioned appeal for increased budgetary allocations by Parliament to accelerate and drive government communications and digital transformation agenda.

Kisiang’ani said injection of more funding will enable the government’s crucial agencies to facilitate the achievement of digitization and digitalization as well as aligning communication of government achievements to the masses.

The PS decried the huge budget deficit of Sh8 billion facing the key state department which he said is delaying the much-needed digital footprint to ease delivery and access of government services as well as linking underserved communities to digital products and services.

Speaking in Naivasha during an engagement session with National Assembly Committee on ICT, the PS appealed to the committee members to re-engineer and overhaul budgetary allocation to the Ministry to hasten the deployment, adoption, and m
igration to digital technology.

In addition, Prof. Kisiang’ani noted that the state department is at the nerve centre of the pathway to the achievement of the Bottom Up Economic Transformation Agenda and therefore should be funded adequately to achieve its targets on time.

Kisiang’ani said more resources will enable the crucial modernization program of key government agencies, including Kenya News Agency, Kenya Broadcasting Corporation (KBC) and Kenya Postal Corporation, to turn around their operations and ensure they achieve their mandates including on government communication strategy.

He added that extra funding will enable the completion of stalled projects such as the Kenya Institute of Mass Communication, Eldoret Campus, as well as accelerate the Studio Mashinani project that aims to harness the creative potential of the youth across the country.

Prof. Kisiang’ani called for the referencing of the communication budget to cushion it from being affected by supplementary budget cuts which hamper the op
erations and the much-needed modernization programs.

‘The Kenya News Agency lost over Sh100 million through supplementary budget cuts affecting the modernization of its offices, procurement of modern equipment and streamlining their operations and therefore I call to protect the fund,’ said the PS.

Kisiang’ani acknowledged the department’s achievements despite the low funding, including preparing more than 153 news briefs, 3600 television items, 24 regional online publications, and 16,869 print news items thus far, this year.

The PS at the same time appealed for Sh1 billion to facilitate the implementation of the newly approved Ministry Scheme of Service Structure that aims to reorganize, re-engineer, and enhance the efficiency of operations and officers.

To reduce the huge pending bills facing the state department to the tune of Sh1.5 billion, Kisiang’ani said he has initiated payment of bills with priority given to bills accrued in the last two years.

Consequently, he said the Ministry is updating its
legal and policy framework to launch the sector to emerging issues and guide the adoption of new technology, including the review of the Kenya Information and Communication Act, Kenya Postal Corporation Act, and National Communication Policy and Strategy, among others.

‘The review of these acts will help reform the sector, address emerging issues, and reignite regulations and the efficiency of agencies to achieve their mandates as expected,’ said Kisiang’ani.

Committee chair John Kiarie acknowledged the huge budget deficit facing the Ministry noting that the committee will consider priority areas of funding within the current budget ceilings.

Source: Kenya News Agency

Uasin Gishu county government in collaboration with the British High Commission has made significant efforts to attract investment and stimulate economic growth in the region.

The county has successfully secured a Sh 302 million substantial investment with the British High Commission and Sustainable Urban Economic Development (SUED) program to establish a packing house for avocado, passion fruit, and edible oil production exports.

Governor Dr. Jonathan Bii Chelilim hosted Dr. Dominic Biwott, the North Rift Advisor Program of the British High Commissioner, and representatives from Price Waterhouse Coopers (PWC) during their visit to discuss a significant investment opportunity.

Speaking Wednesday during the visit, Dr. Bii expressed his excitement about the new investment venture, noting that it marks a significant milestone for the avocado farmers. He further pledged his administration’s support to ensure they receive seedlings to support this initiative. ‘We now have an investor committed to establishing a
packing house for the export of avocados and passion fruit, as well as edible oil production,’ he said.

He added that Fresh Product, a company identified through a rigorous process after the market sourcing exercise by PWC, will begin operations in Eldoret in the next 6 months.

The governor noted that the program is also in the process of seeking investors in the Maize Milling and Potato Cold Store for the county.

Dr. Bii expressed gratitude for collaboration with the British High Commission, Sustainable Urban Economic Development Program, and PWC, who visited the county today.

Source: Kenya News Agency

Bomet Governor Hillary Barchok has assured the business community of his government’s commitment to provide conducive environment and policies for their investment to prosper.

Speaking after holding a coordination meeting between his administration and the investors, the governor said that there was need for business operators within the county to be provided with a favourable environment for their business to thrive.

Prof Barchok further acknowledged the immense position business community hold through their contribution and integral impact in boosting the economy of the County.

‘We appreciate the business community in Bomet town who work their hearts out every other day to fend for their families. Besides providing employment opportunities, both skilled and unskilled, to several people around this town, these investors are also an integral contributor to the overall economy of Bomet county, as a whole,’ explained the governor.

Some of the administrative actions that will be considered by the governor’s
administration include the harmonisation of the rates paid by business owners, investors and mama mboga operating from the market stalls.

Redesigning of market stalls to meet the conformity and requirements of market users, pavement of markets within the county were some of the proposals presented to the governor.

Some of the projects the County boss revealed his administration is working on include the establishment of a main matatu terminus, which after its completion will see the decongestion of matatus in town by establishing official picking and dropping points of passengers.

Bomet town being the express route through which the main road connecting south Nyanza and Nairobi cuts through has been experiencing traffic jams mainly caused by disorganized matatus operators who have been boarding and alighting passengers in undesignated points along the highway.

‘With a view to breathing life into the new market, downtown, we have agreed to reroute the main Matatu terminus in town as was designed, initially
, this will ease the traffic flow in the town,’ explained Barchok.

Barchok further revealed that his administration is also considering the proposal to create one central space for all vehicle mechanics in the town that will act as a mechanical hub.

The hub will act as a central point garage area where all mechanics within Bomet town and its outskirts will work from.

The meeting between the governor and business community comes just a few days amid weekly staged demonstrations that have been taking place in Bomet every Friday where residents have been complaining of acute water shortage, poor state of roads and service delivery, nepotism in the recruitment of County staff among other allegations.

Source: Kenya News Agency

The Kenya Private Sector Alliance (KEPSA) has called for renewed commitment from the private sector to accelerate the implementation of the Sustainable Development Goals (SDGs) and advance sustainable development for all.

KEPSA Chief Executive Officer Ms. Carole Kariuki said the implementation of SDGs aligns with the United Nations Environment Assembly sixth (UNEA-6) on multilateralism as a solution to tackle the triple planetary crisis of climate change, nature and biodiversity loss, and pollution and waste.

The CEO was speaking during sixth session of the United Nations Environment Assembly Sixth (UNEA-6) at the United Nations Environment Programme Headquarters in Gigiri, Nairobi, an event which KEPSA was a co-convening partner in the UN Science-Policy Business Forum on the environment special session.

She also stressed on the urgency to transition to a circular economy in order to achieve a sustainable future amid rising economic and environmental challenges.

‘KEPSA recognizes the circular economy conc
ept as a strategy for promoting sustainable production and consumption, reducing pollution and waste through designs that maximize material utility, extend lifespan, and use regenerative approaches, enabling system transformation for sustainable development,’ she said.

She however, stated that environmental equity can only be achieved when justice exists, and emphasized that the transition to circularity must be supported by genuine collaboration between developing and advanced economies.

‘This can be achieved if advanced economies are honoring their climate change mitigation and adaptation pledges,’ Ms. Kariuki emphasized.

A tracking of the achievement progress for the SDGs in 2023 by the United Nations paints a dire picture, with progress on over 50 percent of targets rated as weak and insufficient, while 30 percent are considered stalled or reversed an indication that an increased private sector’s investment in innovative solutions will go a long way in spearheading environmental equity and Justice.

In
2022, more than 55 percent of global greenhouse gas emissions originated from activities such as mineral and fossil fuel extraction and biomass farming and their transformation into various products like fuels, materials, and food.

Emissions resulting from changes in land use, surpasses 60 percent, this trend underscores a concerning reality that despite the commitments made in the 2015 Paris Agreement, efforts to mitigate climate change have fallen short of adequately addressing the environmental impacts of resource utilization.

Ms. Kariuki further stated that the Global Resources Outlook from the International Resource Panel highlights the potential for significant CO2 emission cuts of more than 80 percent by 2060 through circular economy practices, sustainable consumption, and enhanced resource efficiency.

‘Such strides are attainable and promise to bolster planetary health and foster economic growth,’ said the CEO.

Speaking at the session, the ICEA Lion Insurance Company Kenya CEO Phillip Lopokoiyit n
oted a lack of balance in the private sector’s investments towards climate mitigation and adaptation projects.

‘A total of 95 percent of financing is geared towards climate mitigation, and only 5 percent is channeled to adaptation. Banks can finance adaptation by investing in resilient projects, thus minimizing the risks.

He added that insurance companies can share the risks by working with governments to insure vulnerable communities to enhance adaptation as a way of balancing investments and dealing with climate change in an efficient, inclusive, and resilient manner.

In 2018, Kenya’s SDG index was positioned 125 out of 162 countries with a slightly improved dashboard score of 57.3 percent from 54.9 percent in 2017. The highest SDG score was SDG 12 on sustainable consumption and production, with a score of 93.1 percent from 80.3 percent in 2017, followed by climate action at 84.8 percent. The lowest score was on SDG 10 on reducing inequalities, with a score of 36.3 percent.

The private sector in Kenya h
as demonstrated a significant commitment to advancing SDGs through various initiatives. These efforts encompass adopting innovative solutions to ensure sustainable production and reducing vulnerability to economic, social, and environmental shocks.

The Executive Vice President of the World Business Council for Sustainable Development, Mr Dominic Waughray in his remarks said businesses are important engines of innovation, as the mobilizers of investment, and as builders of capacity.

‘From SMEs and youth startups that drive local economies to the diversity of global businesses, we are delivering progressive, equitable, green, and sustainable jobs,’ said Waughray.

The 6th Session of the United Nations Environment Assembly commenced on 26th February, 2024 and will end on 1st March, 2024.

The event themed ‘Effective, inclusive and sustainable multilateral actions to tackle climate change, biodiversity, loss and pollution’, that will be attended by Heads of States and government, Ministers of Environment and ot
her high ranking dignitaries and UN official and multinationals will negotiate on plastic agreement, marine climate and other climate agreements.

UNEA is the world’s highest level decision making body for matters related to environment. It sets the global environment agenda, provides overarching policy guidance and defines policy responses to address emerging environmental challenges.

Source: Kenya News Agency