The Ministry of Industrialization and Enterprise Development has reiterated ongoing plans to mobilise further industrial based investments as a job creation strategy.
As part of the plan, Industrialization and Enterprise Development, Cabinet Secretary, Adan Mohamed, says the government will focus on five key economic sectors to drive rapid results.
Speaking, when he met, Lord David Sainsbury, the Baron Sainsbury of Turville, who is a global philanthropist and businessman, Mohamed assured that the government has embarked on a strategic project to address bottlenecks facing both local and international investors.
“Ours is a solid commitment to ensure that our investment partners enjoy a conducive environment for business as we seek to raise our national job creation avenues,” Mohamed said.
Globally, known as a scion of the renowned Sainsbury family; which holds controlling stakes in Sainsbury’s the second largest chain of supermarkets in the United Kingdom, Lord Sainsbury who is also the founder of the Gatsby Charitable Foundation said the organization will soon be unveiling a high impact investment vehicle for the East Africa region.
The investment vehicle dubbed Msingi, Lord Sainsbury, said, will be equipped to identify, nurture and successfully manage high impact investments.
“We have worked in Africa since 1985, with the overall objective of creating jobs and improving incomes. With the setting up of Msingi, we are confirming our commitment to achieve sustainable industrial development through a number of ambitious sector development programmes,” he said.
And added: “I will also be keen to maintain dialogue on a potential partnership between the Government of Kenya, the World Bank, DFID and the Gatsby Foundation, focused on supporting the Government’s Industrialization roadmap.”
In East Africa, Gatsby, has set up and funded programmes in the Tea, Forestry, Cotton and Textile sectors.
In addition, they have made investments in micro-finance Institutions and an East African investment fund which has socio-economic objectives at its core.