The Senate Speaker Rt. Hon. Amason Jeffah Kingi has urged the private sector to proactively explore opportunities arising from climate change to promote sustainable development in Kenya.

In his opening remarks at the Speaker’s Roundtable engagement with the Kenya Private Sector Alliance (KEPSA) in Mombasa County on Wednesday morning, Speaker Kingi emphasized the importance of exploring opportunities in renewable energy, the carbon market, and green construction.

Speaker Kingi encouraged the private sector to collaborate with county governments to foster regional development.

"I implore the private sector to deepen its engagements with our counties for enhanced development in the regions. I particularly urge you to show keen interest in investment forums and conferences, periodically hosted by our counties," he said.

These conferences, he noted, attract global partners and potential investors, boosting counties' profiles as investment destinations.

On legislative matters, Speaker Kingi highlighted the Senate's dedication to its mandate, ensuring county operations, service delivery to Kenyans, and value for investors. He thanked the Senators and KEPSA leadership for prioritizing the Roundtable engagement, affirming the Senate's commitment to the initiative.

Senate Majority Leader Sen. Aaron Cheruiyot and Minority Leader Sen. Stewart Madzayo urged the private sector to seize opportunities within the counties to spur development. They also called for technical advice to Parliament and other government bodies to help formulate effective legislation and policies for a conducive business environment. Host Senator Mohamed Faki echoed their sentiments.

Clerk of the Senate and Secretary of the Parliamentary Service Commission, Mr. Jeremiah Nyegenye, acknowledged the private sector's role in governance and stressed the importance of the Senate-KEPSA partnership.

"The private sector plays an important role in the governance of this country, and it is therefore my hope that at the end of this engagement, we will have bolstered our partnership to address emerging policies, legislation, and processes impacting the business environment in the counties," said Mr. Nyegenye.

He assured that his team is ready to provide the necessary support for the collaboration's success.

KEPSA Board Chairperson Mr. Jas Bedi highlighted the challenges faced by private businesses due to high credit costs and urged legislators to help address these issues.

"The high cost of credit and reduced tenor of credit to private businesses is adversely affecting private businesses," he noted.

“Increased domestic borrowing by the government fueling private sector credit crowding out effect, the Market liquidity crunch arising delays in Pending bills payment, credit inaccessibility and VAT tax refunds delays is a matter of concerned, we are concerned that the Treasury Single Account implementation likely to exacerbate market illiquidity and needs be relooked at,” he expounded.

KEPSA CEO Ms. Carole Kariuki detailed the achievements of the engagement and urged lawmakers to continue their support.

"KEPSA championed for the Development of the own source revenue policy to address conflicting regulations on double taxation and multiplicity of charges across County Governments. The policy should be fully implemented to ease doing business at the sub-national level," explained Ms. Kariuki.

This year’s engagement, the sixth since its inception, is themed 𝐒𝐭𝐫𝐞𝐧𝐠𝐭𝐡𝐞𝐧𝐢𝐧𝐠 𝐭𝐡𝐞 𝐑𝐨𝐥𝐞 𝐨𝐟 𝐒𝐞𝐧𝐚𝐭𝐞 𝐢𝐧 𝐈𝐦𝐩𝐫𝐨𝐯𝐢𝐧𝐠 𝐂𝐨𝐮𝐧𝐭𝐲 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐄𝐧𝐯𝐢𝐫𝐨𝐧𝐦𝐞𝐧𝐭 𝐚𝐧𝐝 𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞𝐧𝐞𝐬𝐬 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐂𝐫𝐞𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐖𝐞𝐚𝐥𝐭𝐡, 𝐉𝐨𝐛𝐬, 𝐚𝐧𝐝 𝐈𝐧𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐏𝐫𝐨𝐬𝐩𝐞𝐫𝐢𝐭𝐲 𝐢𝐧 𝐊𝐞𝐧𝐲𝐚.

Discussions are focusing on improving the ease of doing business, promoting manufacturing for economic transformation and job creation, and addressing challenges in county agribusiness. The engagement will also cover human capital development, business sustainability, and enhancing the Senate’s role in devolution and county competitiveness.