KEPROBA unveils plan to increase Kenya exports by 10pc annually » Capital News
NAIROBI, Kenya, May 30 – The Kenya Export Promotion and Branding Agency (KEPROBA) has launched its 2023-2027 Strategic Plan that aims to increase exports by 10 percent annually.
The Strategic Plan is in line with the guidelines for preparation of fifth generation strategic plans issued by the National Treasury’s State Department for Economic Planning.
The Plan is to propel Kenya towards becoming an export-led economy and a top global brand.
“This Strategic Plan is an ambitious plan to increase Kenya’s exports by 10 percent annually from Ksh. 873.1 billion in 2022 to Ksh. 1.6 trillion in 2028,” said Jas Bedi, the Agency’s Board Chairman.
“Kenya’s export value for the first time in history has hit Ksh.1 trillion as of 2023 data released by KNBS recently.
The great performance was contributed by tea that had an export percentage growth of 15.4% from 2022 to 2023. It is estimated by Statistica that the global tea market of tea is expected to rise to 160 billion dollars by 2028.” He added.
“My Ministry is committed to fostering a conducive environment for trade, investment, and industrial development, with a focus on boosting exports and supporting local industries. My commitment is to support local manufacturing by increasing the contribution of manufacturing to GDP from the current 7% to 15% by 2027 and 20% by 2030, and promote export development by growing our exports from the current annual growth rate of 6% to more than 25%, as targeted by the National Trade Policy,” said Michel Mandu, Ag. Trade Secretary who read the Speech by the Cabinet Secretary.
The Plan is a review of the lapsed Strategic Plan 2019 to 2022. The four strategic issues that the Agency will focus on over the next five years are export product development and compliance (supply side issues), export market development (demand side issues), nation branding issues and corporate governance covering aspects of production, marketing and visibility of Kenya and Kenyan products in the regional and international markets.
“Notable strategies in the plan will be the implementation of market deepening and diversification initiatives, facilitation of value addition and adaptation of priority value chains and having a coordinated approach of positioning Kenya as a source of high-quality goods and services,” added Bedi.
Kenya witnessed a significant increase in its export performance with total exports surpassing the Kshs 1 trillion mark in 2023 (from Ksh, 873.1 in 2022 to Ksh.1.064 trillion in 2023).
The trade deficit on the other hand narrowed from Kshs 1,617.6 billion in 2022 to Kshs 1,604.04 billion in 2023. Exports to key markets like Uganda, Pakistan, and Netherlands experienced substantial growth, with products like tea, horticulture, and cement witnessing significant export growth.
To this end, KEPROBA’s 2023-2027 Strategic Plan outlines the commitment to further diversify the export basket by introducing even more innovative Kenyan products to the international stage.
- “The Plan also aligns us towards exploiting opportunities presented in the AfCFTA strategy to increase intra Africa trade. AfCFTA brings together all 55 member states of the African Union, covering a market of more than 1.4 billion people in Africa markets population across 55 member countries with a combined Gross Domestic Product (GDP) valued at USD 3.4 trillion in 2022 (World Bank 2023). This is a huge space for Kenya’s trade sector,” said Jas Bedi.
It is expected that up to 90 percent of liberalised goods will gradually phase out tariffs on 90% of goods by 2030 at the latest. Kenya has been actively engaged in the AfCFTA negotiations and has been a key participant in the Guided Trade Initiative (GTI) that seeks to allow commercially meaningful trading under the AfCFTA.
“Strategic Plan defines the Agency’s strategic direction and implementation of policies and programmes in line with the organizations’ goal to transform Kenya into a top global brand. This plan will be a basis for development of annual work plans and performance contracting, encompassing the Agency’s commitments to be implemented during the Strategic Plan period to ensure growth of exports and improvement of the country’s brand. Today, as we stand on the cusp of implementing this strategic plan, I want to reaffirm our commitment to its execution,” said Floice Mukabana, Chief Executive Officer, Kenya Export Promotion and Branding Agency.
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