Firms advised to target value addition

By Metro Reporter

Firms investing in Kenya are being advised to target value addition to enable the country improve on its trade and balance of payment.

Kiprono Kittony chairman Kenya National Chamber of Commerce and Industry says currently the balance of trade is in favor of foreign firms because Kenya’s exports are mostly in their raw form
Kenya imports commodities worth an estimated 10.4 billion dollars yearly mostly comprising of machinery, transport equipment, plastics, chemicals and motor vehicles.
In a bid to promote trade further, the fourth edition of the Kenya Chemex trade fair would give at least 80 international companies to show case their wares.
Currently chemical products are in demand owing to expansion of several sectors such as the real estate, construction and tourism.
Currently, Kenya consumes about 8000 tons of chemical products. This in turn presents an investment opportunity.
Kittony, the chairman of Kenya National Chamber of Commerce and Industry has challenged stakeholders to fully embrace value addition.