Kenyan exporters urged to diversify, expand

Kenya companies in export business are being urged to expand beyond their ordinarily markets and diversify their services and products to improve earnings.

Speaking during the inaugural KEYA Awards by The Kenya Export Promotion Council (EPC), Kenya’s deputy President William Ruto said the move would not only improve the companies’ revenues but also increase the country’s investment and export flows in boosting Kenya’s GDP.

He made the remarks Monday when the export council honored local enterprises that have made significant contribution to the export sector at a ceremony full of pomp and colour.

The leading commodities exported from Kenya include horticulture, tea, coffee, iron and steel, petroleum products, essential oils, tobacco and tobacco manufactures, fish and fish preparations, and articles of plastics. Regarding services, tourism tops the list while others such as transportation and construction are significant.

The leading market for Kenya’s exports is Africa with Uganda and Tanzania as Kenya’s top importers. Other major African importers of Kenyan goods are the Democratic Republic of Congo, Egypt, Rwanda and Sudan.

Important regional groupings include the Common Market for Eastern and Southern Africa (COMESA) and the East African Community (EAC).Kenya’s next largest market is the European Union, mainly the United Kingdom, the Netherlands, Germany and France.

In Asia, major importers of Kenyan goods include Pakistan, India and the United Arab Emirates in the Middle East. From the American continent, the United States of America is the main customer.

The winners who were selected from 24 companies which participated in the inaugural Kenya Exporter of the Year Awards (KEYA 2019) were awarded for exemplary business performance under various categories.

British American Tobacco (BAT) Kenya Limited won the Solid Rock Commendation (Lifetime Achievement) Award while Spear of The Nation Award (Outstanding Sector Commendation) went to Molo River Roses Limited.

Other winners were Polucon Services Kenya Ltd and Smolart Self-Help Grpup (Rising Stars Awards), Jungle Macs (EPZ) Limited (Upcoming Export Performers – Eagles Award) and Gold Crown Foods (Novelty Innovation Diversification and Value Addition  – Innovators Award).

The KEYAwards is aimed at encouraging local firms to export their goods and services to boost the economy.

It is organized by the EPC to recognize firms that have made significant contribution to the development of the economy through exemplary business performance.

Deputy President Dr. William Ruto who graced the Gala Dinner said the Awards will add impetus to the realization of a prosperous Kenya as envisaged in the Vision 2030 and the Big Four Agenda.

Dr. Ruto said Kenya is emerging as an outward looking continent with a continually improving and stable business environment and the Government is committed to enhancing her presence in Africa.

“With the realization of the Africa Continental Free Trade Area (ACFTA) towards an African Economic Community under the Abuja Protocol, Kenya’s positioning to strengthen her leadership role is imperative to harvesting the most foreign exchange,” he said.

Commenting on the Awards, EPC Chief Executive Officer, Mr. Peter Kibet Biwott, said the programme will help power the Government’s Big4 Agenda by recognising excellence while at the same time inspiring ambitious companies to export more to boost the economy.

The KEYAwards focuses on excellence based and recognition honours, which are determined by leadership and corporate governance, marketing and customer focus, financial and revenue generation practices, and ICT adoption in the firms. Product quality, processes and certification, human resource management and sustainability of the firms are also evaluated.

The Recognition awards on the other hand consider the excellence-based criteria as well as other specific aspects of the participating companies that are used to determine the various recognition categories.