The government has unveiled a new industrialization policy aimed at supporting manufacturers and investors through the establishment of an industrial kitty funded by an import levy.

Department of Industry Principal Secretary Juma Mukhwana revealed that the government has already collected Ksh200 million through the levy, signaling a significant step towards promoting local industries.

“We are determined to create opportunities for our local industries to thrive,” stated PS Mukhwana. The industrial kitty will provide crucial financial assistance to manufacturers and investors, enabling them to access loans to expand their operations and tap into new markets both within Kenya and across the East African community.

The Export and Investment Promotion Levy (EIPL) introduced to boost local manufacturing and investment is now in effect, with charges ranging from 10 percent to 17.5 percent of the customs value of specific imported products.

This initiative aims to reduce the country’s reliance on imports and stimulate growth in the local manufacturing sector.