Preparations have kicked off in earnest for the upcoming International Mining and Investments Conference to be held in Nairobi in February 2024.
Planning is being spearheaded by the Ministry of Mining, Blue Economy and Maritime Affairs alongside Kenya National Chamber of Commerce and Industry (KNCCI) amongst other line ministries and State Departments.
“KNCCI leadership is committed to ensuring the success of the International Mining and Investments Conference. The private sector plays a key role in spurring development in the mining sector for a meaningful contribution to the GDP of this country. KNCCI with membership in the 47 counties aligned to grow this sector,” KNCCI president Erick Rutto said.
Rutto made the remarks after holding a meeting with Mining Cabinet Secretary Salim Mvurya at his office in Nairobi.
The CS expressed commitment to support the private sector to spur development in the country.
KNCCI is also pushing for the inclusion of the International Commission on Great Lakes (ICGLR) Private Sector Forum (PSF) in the convention comprising of 12 countries.
Currently, KNCCI is the host of the International Commission on Great Lakes (ICGLR) Private Sector Forum and is seeking to capitalise on the regional opportunities to complement the trade and market linkages in both the East African Region, Great Lakes region and the African Continental Free Trade Area (AfCTFA).
Mining and the Blue Economy sectors have been cited as emerging under-exploited sectors with immense resources for national, regional and global development.
On Friday last week, while officiating the official opening of the Voi Gemstone Value Addition and Marketing Centre, in Taita Taveta County.
President William Ruto said that the government has streamlined the mining sector to be the country's key driver of the economy.
The president noted that the revival of the sector remains key to accelerating the processing of construction and industrial minerals, thus contributing to the economic growth of the country.
"Our ambition is to transform the contribution of the mining sector and raise it to at least 10 per cent of Gross Domestic Product by implementing several measures,” he stated.
He argued that the transformation of mining and minerals was on the top gear to increase revenues from the sector.
"After establishing an accurate, transparent and secure inventory of our country's endowments, we have moved to the next step of developing a robust mineral development and value addition policy and regulatory framework,” he added.
The Head of State noted that in 2019, the revenues from mineral royalties were Sh1.9 billion, and added that by June this year, the figure had risen to Sh3.8 billion.
He added that the revenues were expected to reach Sh15 billion by the end of the year, and Sh50 billion in the medium-term.
