All businesses to be part of chamber under new law
Business
By
Graham Kajilwa
| May 23, 2023
It will be compulsory for businesses to be members of the Kenya National Chamber of Commerce and Industry (KNCCI) as the government moots a new law to revamp the private sector body.
Cabinet Secretary Ministry of Investment, Trade and Industry Moses Kuria said the Principal Secretary State Department for Investment Promotion is under instructions to present the Bill to Cabinet in 30 days.
PS in charge of the State Department is Abubakar Hassan.
The CS who spoke at the opening of the Africa Private Sector dialogue on the Africa Continental Free Trade Area(AfCFTA) said the government envisions a chamber that will be a true representation of Kenyan businesses.
"When we talk about the chamber of Kenya, it is not going to be about the self-interest of individuals or about briefcase businesses. It will be about businesses that can speak for Kenya and can earn us the respect we deserve," said the CS.
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Mr Kuria said the change in law will provide an organised business environment for Kenyan enterprises.
This chamber, he said, will be one that even multinationals will be proud to be members. Membership to KNCCI is currently voluntary with four categories of registration namely platinum which goes for Sh1 million, gold Sh500,000, silver Sh300,000 and bronze Sh110,000.
"We are going to have a Kenya chamber that is reflective of the Kenyan businesses. A chamber that even Meta or Stanbic Bank can say they are proud to be members," said the CS. "A chamber that can be equal to the United States chamber, Chinese chamber, American-Kenya Chamber of Commerce(AMCHAM) or the European Business Council."
This organisation will then provide a platform for the government to interrogate why business are not growing outside the borders by taking advantage of economic pacts like the AfCFTA.
The event is in preparation for the 3rd Kenya International Investment Conference to be held on May 30-31.
This conference will be opened by the Africa Private Sector Dialogue on AfCFTA on May 29 which will be attended by President Dr William Ruto.
There will also be a high-level meeting on May 28 at State House.
"This is the first time since AfCFTA was mooted that we will have private sector talking to the government," said CS Kuria.