KEPSA signs MoU to help implement new business strategy
The Kenya Private Sector Alliance (KEPSA) has signed a Memorandum of Understanding (MoU) with the UK’s Department for International Development (DFID-Kenya) for a grant equivalent to KES 113.7 Million at a ceremony witnessed by KEPSA Board Committee for Projects, Partnerships and Resource Mobilisation (PPRM); KEPSA Secretariat; and members of press.
The grant is meant to support KEPSA in implementing its new Business Strategy which has been developed on the back of KEPSA’s tenth anniversary since the organization was established in 2003.
The Business Strategy seeks to re-engineer and re-model KEPSA into a formidable private sector advocacy apex body over the next ten years and to peer up with similar apex bodies such as the Singapore Business Federation (SBF), Japan Business Federation (JBF), the Movement of the Enterprises of France (MEDEF), Confederation of British Industries (CBI) among others.
Speaking during the ceremony, KEPSA CEO Ms. Carole Kariuki said the MoU demonstrates commitment by both parties to implement the new journey and route that KEPSA is taking through its new Business Strategy.
“This support will help sponsor most of KEPSA’s dialogue platforms with law and policy makers and drive legislative and procedural change that will result in wealth creation and private sector growth”.
KEPSA’s primary mission during the implementation of its new Business Strategy over the next five years will be to ensure a year-on-year improvement in the overall business environment of Kenya in order for the country to attain the top 50 position in three global business environment indices by 2018: the Ease of Doing Business Index, the Global Competitiveness Index, and Transparency International Bribery Index in the context of attaining Vision 2030.
On her part, Lisa Phillips Head of DFID-Kenya, said that DFID sees private sector growth as an essential means to economic development and poverty reduction.
In addition, she said that rising incomes and wealth are driving poverty reduction, and investment in growing businesses is the primary driver of rising incomes and wealth in many countries, including Kenya.
KEPSA Director Eng. Patrick Obath thanked DFID for their support to KEPSA, noting that DFID has been a prime partner of KEPSA since KEPSA’s inception in 2003. He clarified that KEPSA champions the interest of all businesses including the Micro and Small Enterprise Federation (MSE).