[Kenya] KAM, TradeMark East Africa launch online portal for investors
Kenya Association of Manufacturers (KAM) in partnership with TradeMark East Africa have launched an online portal in a quest to provide investors in the country with up to date data on the sector.
The centralized business portal will provide industry stakeholders and potential investors with information on economic and legal environment, industrial and trade statistics relevant to the manufacturing sector and its sub sectors.
Speaking during the launch, Ministry of Information, Communication and Technology, State Department of ICT and Innovation Principal Secretary, Mr. Victor Kyalo noted that the ICT sector is envisaged to transform Kenya into knowledge and information based economy.
“ICT sector is the catalyst for competitive and dynamic economies. Kenya is considered the leading technology and innovation hub in Africa. The development of a large-scale telecommunications infrastructure in Kenya, capable of delivering efficient and affordable info-communications services is recognized as a critical prerequisite for the country’s economic growth. The Ministry of Information, Communication and Technology is therefore keen to partner with KAM to mainstream innovation in industries,” added Mr. Kyalo.
KAM Chairlady, Ms. Flora Mutahi noted that the information shared through the portal will provide investors with the necessary data needed to map out areas of investment and potential sectors for businesses to scale into.
“Kenya moved a notch higher in e-commerce following the recent launch of the devolution portal which seeks to provide an interactive platform for information sharing between the Business Membership Organizations County Governments and Constitutional Implementation Bodies. Another key milestone for industry has been the launch of the new National E-Trade Portal – a national e-commerce gateway.
The Portal launched by KAM is part of the wider efforts to integrate the use of technology in the manufacturing sector in line with our economic goals towards Vision 2030.
It will increase the sector’s investment competitiveness by providing necessary data needed for investment and ultimately, the growth of the sector,” added Ms. Mutahi.
TradeMark East Africa ICT Director, Mr Alban Odhiambo noted that it is critical to improve the availability and accessibility of information that businesses and policy makers require to make decisions.
“In a globalized economy, information is a vital currency that can make or break a firm. The establishment of the Manufacturer’s Portal is a step towards the right direction of setting up a customer-centric and knowledge-based way of doing business and TMEA is happy to be associated with this venture which will enhance the effectiveness of KAM to service its members, start-ups and investors in the manufacturing sector of our economy. The goal of this venture is to ensure that manufacturers operating in the country and the region, or planning to set up shop have access to accurate and reliable information to support their strategic and operational decision-making processes,” added Mr Odhiambo.
The KAM Portal hopes to supplement increased use of digital platforms that provide active solutions for the business community in the country.
In the short and medium term, the database is expected to raise the level of awareness of manufacturers on the legal environment, economic and trade statistics as well as other related areas.