Lee Kinyanjui assumes role as Cabinet Secretary for Investment, Trade, and Industry

From left Salim Mvurya’ CS for Sports and Youth Affairs during the handing over of Trade ministry to Lee Kinyanjui

In a ceremonial handover held at the Ministry of Investment, Trade, and Industry, Lee Kinyanjui officially resumed office as the Cabinet Secretary (CS) for Investment, Trade, and Industry. The trade outgoing CS and current CS for Youth Affairs and Sports, Salim Mvurya, expressed confidence in Kinyanjui’s ability to steer the ministry to greater heights.

During the handover ceremony, Mvurya described Kinyanjui as a seasoned leader with a robust profile, having served as a governor, Member of Parliament, and assistant minister. “Honorable Lee brings invaluable experience, and I have no doubt he will build on the existing foundation to drive progress in the ministry,” Mvurya stated. He highlighted ongoing projects, including the rural industrialization initiative and the development of special economic zones, as priorities for the incoming CS.

The rural industrialization program, initially launched in partnership with 19 counties, will now expand to cover all 47 counties. Mvurya also emphasized the need to accelerate the establishment of public and private special economic zones in regions such as Mombasa, Naivasha, and Dongo Kundu, as well as finalizing flagship export processing zones that are still in progress.

In his remarks, Kinyanjui outlined his vision for advancing Kenya’s investment, trade, and industrial sectors. He acknowledged the challenges facing industries, such as closures due to technological disruptions, and pledged to create mechanisms to address salvageable cases. “While some industries may be overtaken by time and technology, our goal is to support businesses in adapting to modern demands and ensuring sustainability,” he said.

The newly CS emphasized the importance of fostering a predictable taxation regime to attract both domestic and foreign investments. He pledged to work with Parliament and the Treasury to provide industries with stability and long-term financial planning.

Highlighting Kenya’s recent economic partnerships, Kinyanjui called for greater utilization of agreements such as the African Continental Free Trade Area (AfCFTA), the Economic Partnership Agreement (EPA) with the European Union, and the Comprehensive Economic Partnership Agreement with the United Arab Emirates. “While these agreements create opportunities, there is a significant gap in industry readiness to meet market demands,” Kinyanjui noted.

He urged stakeholders to align with the government’s efforts to ensure Kenyan products, particularly agricultural goods, penetrate these lucrative markets. “Expanding markets without sufficient supply chains undermines the potential benefits. Industries must rise to meet the demand,” he stressed.

The new CS assured stakeholders of an open-door policy to address challenges and enhance collaboration. He acknowledged the mixed reactions to company closures and openings, urging for a balanced narrative to maintain investor confidence. “When one company closes, it makes headlines. However, when new companies open, it often goes unnoticed. We must foster a positive environment that supports investment and growth,” he said.

Kinyanjui also emphasized the need for regulatory compliance to uphold public safety and ensure quality standards for goods and services. “There will be no sacred cows in enforcing standards. Public trust is paramount,” he affirmed.

The new CS highlighted the ministry’s commitment to supporting small and medium enterprises (SMEs) and empowering youth through job creation and skill development. By leveraging Kenya’s natural resources and aligning financial institutions with industrial goals, Kinyanjui aims to transform Kenya into an export-driven economy.

With a focus on rural industrialization, market expansion, and fostering a conducive business environment, Kinyanjui’s tenure promises to prioritize sustainable growth and innovation. He concluded his address with a commitment to teamwork, pledging to work closely with ministry staff, industry stakeholders, and government agencies to achieve national objectives.

This handover marks the beginning of a new chapter for Kenya’s investment, trade, and industrial sectors, as the country seeks to solidify its position as a regional economic powerhouse.