Connect with us

Hi, what are you looking for?


Kenya Industrial Estates board takes office

NAIROBI, Kenya, Mar 22 – The Minister for Industrialisation Henry Kosgey on Monday challenged the  Kenya Industrial Estates (KIE) to recommit itself to the delivery of its  mandate so that Kenyans could once again begin to feel its impact.

The Minister was speaking during the official induction of the newly appointed board of directors of the institution in Nairobi. He told the board that the Ministry expects it to come up with innovative ideas and suggestions on how to move KIE forward and improve its service delivery to the Kenyan public.

The Minister pointed out that it has been the Government\’s expectation that with time, the favorable environment, enterprise and entrepreneurs supported by KIE would grow into self sustaining
businesses that would graduate into bigger industries.

This would have improved the welfare of local communities, he said, through employment creation and improved incomes and thus stimulate regional development. He acknowledged that there have been some 
wonderful success stories of industries that had been incubated at KIE and which grew from micro enterprises to regional giants today but  these had become fewer and far in between over the years.

The induction training is tailored to give the board members a better appreciation of the emerging discipline of good corporate governance and how it relates to their role as directors and the roles of other stakeholders.

Mr Kosgey said he was confident that from the experiences gained in KIE’s 43 years of existence, its network and asset spread in over 32 districts and despite the high cost of credit, the institution it could still make a big difference towards the process of  industrializing the country. He spoke of the opportunities available 
in the value addition of locally available resources and asked the institution to seek areas of collaboration.

He observed that government is still working on KIE’s balance sheet to enable it to have access to capital. He recommended that all future loans to the institution be made in local currency unlike the case in the past when KIE borrowed money in foreign currency, a situation that adversely affected repayments once the value of the Kenyan shilling dropped.

The Minister asked the board to ensure that it was involved in the Institution\’s decision making process and called on it to value and motivate members of staff so that they could achieve the desired results. He assured the board of his complete support and asked that professional conduct be upheld and also that public procurement guidelines be followed at all times.

KIE’s mandate includes the provision of finances, work space, business development services and the promotion of subcontracting linkages to Micro Small and Medium Industries in order to foster the development 
of indigenous industries country wide.

Advertisement. Scroll to continue reading.
Click to comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...