NEW NORMAL

KAM and consultancy firm lay out Covid-19 recovery strategy paper

Global manufacturing output declined by 6.9 per cent in Q1 2020 in comparison to Q4 2019 output

In Summary
  • According to KAM CEO Phylis Wakiaga, the policy toolkit shall aid in charting forward the growth, development, and resilience of the manufacturing sector.
  • The toolkit also presents overarching policy interventions among them nurturing nascent & emergent business opportunities; support to SMEs
Phylis Wakiaga, CEO, Kenya Association of Manufacturers
Phylis Wakiaga, CEO, Kenya Association of Manufacturers

The Kenya Association of Manufacturers and tax consutancy firm, KPMG have crafted a a manufacturers guide on how to survive post-Covid 19

It identifies various learning points arising out of the pandemic for manufacturers how they can chart forward.

KAM CEO Phylis Wakiaga, said the guide can help the manufacturing sector attain the 15 percent conribution to the Gross Domestic Product as envisioned in the big four agenda.

“COVID-19 has presented us with huge opportunities including the manufacture & supply of medical equipment, investments in adopting new technology and need for developing local value chains to reduce dependence on imports,” said Wakiaga. 

KPMG partner Gerald Kasimu said increased exports could help in bridging the balance of trade between Kenya and its key trading partners.

Global manufacturing output declined by 6.9 per cent in Q1 2020 in comparison to Q4 2019 output.

“Through our long-term development framework, we hope to build Kenya into an export-driven economy. We continue to work with private sector to develop measures that boost productivity, reduce imports & drive industrial growth,” said Julius Muia,PS Treasury.

“To drive economic resilience & sustainability, policies should address health emergency, support business liquidity, maintain links between employers & employees & rethink the current economic model to align it to the new normal,” said KAM Chair, Mucai Kunyiha.