Kenya has unveiled its first-ever blueprint to revive its manufacturing and industrial exports sector.
The decade-long plan, aptly christened Kenya’s Industrial Transformation Programme (KITP), looks beyond import-substitution and export-led policy regime to develop its industries, stimulating Kenya’s ambitions as Africa’s next industrial power.
Anchored on a five-point strategy, prioritizing leveraging Kenya’s comparative advantages, the plan aims at growing the manufacturing sector to levels above 15% of Gross Domestic Product (GDP) from a static 11% over the past decade.
According to Cabinet Secretary Industrialization and Enterprise Development Adan Mohamed, Kenya has identified 10 opportunities within the key strategies that will increase manufacturing sector jobs to 435,000 additional jobs in the next 5 years (+150% compared to today) and add Kshs. 200-300billion to the GDP.
“As an emerging economy, moving from agriculture based, low income economy to an industrial, middle income economy, it is paramount that the manufacturing share to GDP increases,” said Mohamed. Read more. Source | Kenya Broadcasting Corporation