Ruto and Raila hold hands, calls for unity, marking Kenya trade week

Ruto and Raila call for unity. PHOTO | SG

Trade in Week in Nairobi was graced by Deputy President William Ruto and Rt Raila Odinga in a successful trade fair. The two embraced on unity and peace as the only components that will spearhead the economy.

The two launched a national export strategy aimed at bridging Kenya’s trade deficit. The policy document will revive hopes of Small scale entrepreneurs in the upcoming market through economies of scale.

“To do value addition you need a lot of power. Energy costs currently are too high. When the cost stands at 16 cents per unit, you cannot compete effectively internationally. You cannot compete with someone who pays 3 cents for power,” said Raila.

“You’ve got here an animal called the energy and petroleum regulatory authority. I don’t know what it is supposed to regulate. It is actually hampering energy generation in this country,” added Raila. 

The strategy focuses on manufacturing, agriculture, livestock, fisheries, oil and gas, and handicrafts.

Ruto expressed concerns about Kenya’s trade deficit, saying the country lagged behind. “It is clear Kenya’s export numbers are lagging behind; others in the global market,” said Ruto, adding: “We need to solve this problem. Our trade deficit is close to a trillion shillings.”

Ruto said the policy document would help grow the Kenyan export share as a percentage to the country’s Gross Domestic Product from eight to 22 percent.

“Let’s implement this strategy with urgency and diligence and begin to grow Kenya’s economic footprint,” said Ruto.

The duo said that Kenya needs a new structure if governance that will bring closer everybody. That will equally and fairly elevate the economy to all the people from different standards.