NAIROBI, Kenya, Feb 5 – Sustained Government reforms in business and industry has attracted investments in various sectors of the economy in the past three years.
State House Spokesman Manoah Esipisu has listed several international and local companies that have invested in the country including Wrigley’s Sh5.8 billion plant in Machakos and GZI’s Sh10 billion can manufacturing facility.
“Local companies have been expanding existing business such ABM Batteries, Keroche Breweries that set an expansion through investing in a plant of Sh5bn, Bidco Group is investing in a brand new plant in Thika, the East African Cables has expanded over the same period.
In the apparel sector, the Government says over 20,000 jobs have been created over the same period with companies such as Mombasa apparel, Balaji EPZ investing in excess of Sh7bn over this period.
Referring to statistics from the Kenya Investment Authority, Esipisu said over 300 medium-size to large companies set up shop in Kenya in 2016 including the Honey Well Group of the USA a fortune 500 company has opened their regional office in Kenya.
Some of the reforms and policies that have lured businesses to Kenya include reducing the cost of power by increasing supply, improving efficiency at the port of Mombasa and removing bottle-necks in business registration.
Esipisu was responding to recent reports that have painted a gloomy picture of Kenya’s business environment that has led to closures and downsizing.
“Businesses world over as is in Kenya, face various challenges during their life cycle some of which could be due to competition, harsh operating environment where the case may be so, access to markets, management practices and access to finance amongst others,” Esipisu said.
Statehouse has also linked the business challenges to a lack of a digital strategy and changing consuming behaviour.
“Consumer behavior is today a major driver of many global businesses and the digital age in Kenya has not been left behind,” read part of the statement.