Chinese in Africa
Chinese in Africa

Kenya’s private sector will seek inspiration from the Chinese development model to help boost competitiveness, a private sector lobby said on Friday.

Lee Karuri, chairman of the Kenya Private Sector Alliance (KEPSA) Foundation, told Xinhua in Nairobi that Beijing has a very dynamic private sector capable of producing goods that are globally competitive.

“Kenya should develop a model similar to the Chinese where local companies receive support from the government in terms of capacity development and financing to scale their operation both regionally and globally,” Karuri said during a policy forum on the business environment in Kenya.

Karuri added that Chinese enterprises in Kenya have excelled due to huge financial resources coupled with advanced technical capabilities.

He called for the government to partner with all relevant stakeholders in order to improve the business environment.

“Businesses require support so that they can provide employment opportunities,” he added.

According to the business lobby, Kenyan manufacturers have an estimated 13 percent cost disadvantage in the east Africa region due to a multiplicity of national and county taxes.

He revealed that Kenya is currently facing a shortage of liquidity largely attributed to cash-flow challenges from financial institutions withholding credit to the private sector as well as delayed payments by national and county governments. Enditem

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