Local investors to get State incentives

May 28, 2012
Shares

,

The Keroche Breweries plant in Naivasha/FILE
NAIROBI, Kenya, May 28 – The Trade Ministry has announced plans to introduce a new trade policy aimed at supporting local investors.

Trade Minister Moses Wetangula says this will include giving tax incentives to local investors and ensuring fairness especially in the industrial and manufacturing sector.

This according to the minister includes: “How long it takes to register a company; how long it takes to get your tax refunds, how long it takes to go and set a shop in any part of the country. It will be telling the government, what we need to do, to improve the investment and trading climate in the country.”

Wetangula, who was speaking while commissioning a spirit processing plant at Keroche breweries in Naivasha on Friday, also criticised the Kenyan Alcohol Supplement Law, commonly referred to as the Mututho law, adding that the law is currently undermining the smaller investors.

At the same time Keroche CEO Tabitha Karanja said despite the challenges facing the industry, the company targets to increase its market share from the current 20 percent to 40 percent, in the next three years.

“It has not been easy to cater for the lower end of the market which has been neglected for years. But with Vienna Ice ready to drink Vodka, we have and will always ensure that these Kenyans afford these drinks. With an increased production capacity of 15,000 bottles per hour, this year, we are certain to boost our market share from 20 percent to 40 percent in the next three years, “said Karanja.

She has called on the government to put in policies that are fair and by effecting laws that support all the market players.

“The government should bury the monopoly in the grave yard and always seek opinion of stakeholders before imposing policies that negatively affect some players in the industries while protecting the interest of a few others, “added the Keroche CEO.

Apart from the new spirit plant launched, Keroche industries also put a new face to its vodka drink Crescent.

Shares

Latest Articles

Stock Market

Most Viewed