Kenya is set to host an international mining conference. The Ministry of Mining, Blue Economy, and Maritime Affairs are taking the lead in planning the event which is slated to take place in Nairobi County. The Kenya National Chamber of Commerce and Industry (KNCCI) is also actively involved, along with other line ministries and State Departments.
The conference is planned for next year in February. KNCCI’s President, Erick Rutto, has expressed a strong commitment to the success of the conference, emphasizing the vital role that the private sector plays in driving development in the mining sector and contributing to the country’s GDP. KNCCI, which has membership in all 47 counties, is dedicated to promoting growth in the mining sector.
Global development
KNCCI is advocating for the inclusion of the International Commission on Great Lakes (ICGLR) Private Sector Forum (PSF) in the conference. This forum comprises 12 countries and aims to capitalize on regional opportunities to enhance trade and market linkages within the East African Region, Great Lakes region, and the African Continental Free Trade Area (AfCTFA).
Mining and the Blue Economy sectors are considered under-exploited sectors with significant resources for national, regional, and global development. President William Ruto has expressed the government’s commitment to streamline the mining sector to become a key driver of the country’s economy.
The government’s ambition is to increase the mining sector’s contribution to at least 10% of the Gross Domestic Product (GDP) by implementing various measures. It has been working on developing a robust mineral development and value addition policy and regulatory framework. The revenues from mineral royalties have been on the rise, with significant growth expected. In 2019, mineral royalties generated Sh1.9 billion, which had increased to Sh3.8 billion by June of the current year. The government aims to reach Sh15 billion by the end of the year and Sh50 billion in the medium-term.
