NAIROBI, Kenya, Aug 20 – Private sector players have signed a Sh154.4 million financing agreement with Trademark East Africa, to support trade and investment for businesses and create jobs.
Under the agreement, TMEA will be supporting Kenya Private Sector Alliance’s Public-Private Sector Dialogue programme, which focuses on six areas.
These include transport and logistics, Customs and Tax, and Technical Support for efficient Public-Private Sector Dialogue frameworks among others.
Chair of KEPSA’s Public-Private Dialogue Board Committee Brenda Mbathi says the sector will yield a two-fold benefit from the grant.
“We plan to implement a new approach which involves working together with the local sector-based business associations, business associations representing foreign companies in Kenya and the civil society advocates of regional integration,” Mbathi says.
The grant is intended to foster policy interventions geared towards catalyzing growth of trade and investment for Kenya businesses.
It also plans on strengthening the private sector with more capacity for better coordination of strategic public policy dialogue.
“Building platforms where the private sector can voice issues that are real and pertinent to the business environment remains critical in the larger sphere of our work,” TMEA CEO Frank Matsaert said.
Overall, KEPSA’s PPD Program aims to contribute to achieving 10 percent reduction in transport cost and time and lobby for enhanced customs, port and other trade-related agencies efficiency to reduce service time to 48hrs through inter-agency collaboration and digitizing and integrated trade management systems.