Kenya Private Sector Alliance (KEPSA), the national apex body of the private sector, has entered into a financial agreement with Trademark East Africa (TMEA), an East African not-for profit Company Limited, to help expand trade and investment as well as create jobs and grow the economy.
The financial agreement, which is worth $1.5 million (Sh155m) is aimed at supporting KEPSA’s Public-Private Sector Dialogue (PPD) programme. The programme is premised on six key areas; the transport and logistics (road, rail and air), trade facilitation, customs and tax, standards and SPS, trade logistics and technical support for efficient public-private sector dialogue frameworks.
According to Brenda Mbathi, Chairperson of the KEPSA PPD Partnerships and Resource Mobilisation Board Committee, the sector is expected to yield benefits two-folds as a result of 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,” she said.
The agreement is intended to foster policy interventions geared towards catalysing growth of trade and investment for business in Kenya
The financial agreement is intended to foster policy interventions geared towards catalysing growth of trade and investment for business in Kenya. Also, it plans to strengthen the private sector with more capacity for better coordination of strategic PPD.
According to Frank Matsaert, Chief Executive of TMEA, 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 their work. Such input enables development partners and governments to devise solutions that respond to real needs. We are glad to partner with KEPSA to make sure that dialogue takes place,” he said.
KEPSA’s PPD Program aims to contribute to achieving 10% 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.
Additionally, the program seeks to enhance efficiency of the Bureau of Standards, reduce related costs by 10% and sustain the war on illicit goods.
