The Kenyan government is eager to move the country up the global iron and steel value chain.
President William Ruto stated that plans to promote the industry are already in the works.
“We are developing a long-term strategy for the expansion of our country’s iron and steel sector.”
He reassured investors of the government’s assistance, including the removal of brokers and the repeal of punitive levies and taxes.
The President predicted that steel consumption would rise when the government began its infrastructure, manufacturing, and affordable housing programs.
He was speaking at the opening of the Devki integrated steel plant, Kenya’s first, in Samburu, Kwale County, on Friday.
The Sh30 billion plant with more than 1,000 employees is one of the largest in the region and will save the country foreign exchange of more than Sh60 billion a year.
“This is a milestone in our industrialisation journey as it will advance our economic transformation plan,” explained the President.
But even as the iron and steel sector is revived, the President warned that “we should find ways to mitigate against its adverse impact on the environment”.
