The Kenya Association of Manufacturers (KAM) has urged the government to address policy and taxation inconsistencies following the presentation of the 2024/25 Financial Year budget by Treasury Cabinet Secretary Professor Njuguna Ndung’u.
The budget was presented to Parliament on June 13, 2024, and subsequently discussed in depth at a Budget Breakfast Forum hosted by PwC Kenya on Friday morning.
At the event, KAM Chief Executive Anthony Mwangi highlighted the significant role of manufacturing in the economy and reiterated the association’s long-standing call for policy reforms.
“Manufacturing has a substantial impact on the economy. We have been advocating for the correction of policy and taxation inconsistencies to make us more competitive. We have encountered proposals that will help stop the bleeding,” Mwangi stated.
Mwangi also praised the government’s focus on agricultural value chains as outlined in the budget, describing it as a “master stroke” for the Kenya Kwanza administration.
“This strategic approach not only aims to boost agricultural productivity but also to integrate various stages of the value chain, from production to processing and marketing,” Mwangi explained.
He welcomed the allocation of funds to County Aggregation and Industrial Parks (CAIPs) and Special Economic Zones (SEZs), noting that these investments are crucial for providing the necessary infrastructure and incentives for businesses to thrive.
