Trade and Investments Cabinet Secretary Moses Kuria has announced a plan that would see all Kenyan businesses obligated to join the Kenya National Chamber of Commerce and Industry (KNCCI).
Speaking at an investment conference on Monday, May 22, Kuria stated that it would be made mandatory to encourage business growth, disclosing that a draft bill would be brought before the cabinet within 30 days. Should Kuria’s proposal sail through, Kenyan businesses already grappling with a weakened Shilling, high inflation, rising energy costs and reduced consumer spending power will also have to brace themselves to pay thousands in annual subscription fees.
The chamber currently charges between Ksh5,000 and Ksh100,000 for an annual subscription, in addition to ‘entrance fees’ of between Ksh1,000 and Ksh5,000. Sole proprietors are charged an annual subscription fee of Ksh5,000. Partnerships, SME private limited companies, local public companies and corporate members are charged Ksh10,000, Ksh15,000, Ksh50,000 and Ksh100,000 respectively as annual subscription fees.
“In African companies, everyone is their own king in their own corner. We need to grow out there and expand so that we are recognized internationally. Even for some of the big companies we have here in the country, you find that they are established in maybe one or two other countries,” Kuria stated at the launch of the third Kenya International Investment Conference on Monday.
“That is why I have challenged my Principal Secretary and we are already working on a law that will be presented to the Cabinet within the next 30 days known as the Kenya National Chamber Law,” he confirmed.
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KNCCI describes itself as an autonomous, non-profit, membership-based private sector lobby institution. It generally advocates for policy-making conducive to business and industrialization. It has chapters in all 47 counties, and claims to have over 10,000 members countrywide.
KNCCI is affiliated with the International Chamber of Commerce, World Chambers Federation and Pan African Chamber of Commerce and Industry.
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