Remarks · 10 November 2022
(For Immediate Release)
DESPATCH FROM CABINET CABINET convened this morning for its second meeting following its inaugural meeting last week on Thursday 10th November, 2022. The Meeting as Chaired by HIS EXCELLENCY THE PRESIDENT considered various policy interventions ranging from the State of National Security, the State of our Public Health including the continued response to COVID-19, Ebola Virus Disease outbreak in the region, the Economy with a focus on access to credit through the Administration’s transformative plan to foster financial inclusion by the establishment of the Hustlers’ Fund and the Security of our territorial waters as well as the categorization of Kenyan Waters in the Indian Ocean. ON THE STATE of National Security, the meeting noted that from an overall perspective, the state of national security is sound, even though parts of the country had over the last week experienced a surge in crime particularly in Nairobi as characterized by increased muggings and robberies and in the north where perennial banditry and cattle rustling activities continue. IN RESPONSE to the security concern, cabinet sanctioned upscaling of security surveillance to deter crime and sanctioned swift and decisive action to deal with all those perpetrating crime. It was noted that the Nairobi County Security command had been reorganized and further augmented with deployment of additional specialized police units drawn from the General Service Unit and the
Rapid Deployment Unit (RDU). Cabinet applauded our security officers who continue to make immense personal sacrifices to keep our nation and its borders safe. The meeting similarly thanked all members of the public who voluntarily give information that is critical to safeguarding our nation. THE NATION’S apex policy organ also approved the reinstatement of the multi-agency co-ordination between our nation’s security organs and operators at all points of entry into the country as a heightened measure to detect and prevent trafficking in Narcotics and other psychotropic substances. IN REGARD to the policy interventions to address the heart of Kenya – its economy, the meeting approved the legal and institutional framework to anchor the establishment and implementation of the Financial Inclusion Fund (Hustlers Fund). THE GROUND-BREAKING Fund is expected to open up affordable credit facilities for the majority of Kenyans who had previously been locked out of the credit facilities and to boost a savings culture while creating momentum for sustainable development. The fund is structured with four products namely Personal Finance, Micro Loans, SME Loans and Start Up. Cabinet hailed the support received from the regulators including the Central Bank of Kenya, Financial Intermediaries and Financial Institutions and Mobile Network Operators in steering the development of the revolutionary financial product. THE IMPLEMENTATION of the Administration’s signature pledge is tipped to liberate the people of Kenya from the bond of predatory lending. As part of the first phase of this roll-out that is expected to be unveiled and launched to the nation on 30th November, 2022; the loan limits will be a minimum of Ksh. 500 up to a maximum that will be determined by the borrower’s credit score, and capped at Ksh. 50,000.00. As a first single digit credit product in the Country and the region, the loan interest rate will be capped at 8% per annum computed on a pro-rated basis. TO FACILITATE job creation by positioning micro and small enterprises as the driver for employment and wealth creation, Cabinet approved the proposed establishment of the Centre for Entrepreneurship. The Centre, to be domiciled within Kenya Industrial Estates (KIE), will be established through a partnership between the Government of Kenya and the Federal Republic of Germany. The Programme will target 250,000 youth entrepreneurs aged between 18 and 35 across the country by providing them with information on brand campaigns, website and call-in to the center. Additionally, 100,000 youth entrepreneurs will access in-depth screening services (coaching, mentoring and career guidance). Overall, this seminal project is expected to create over 50,000 direct and indirect-jobs by expanding manufacturing output and improving the overall country’s competitiveness. CABINET ALSO considered the continued national response to Covid-19 in the country as well as the Ebola Virus Disease Outbreak in Uganda. As part of the emergency preparedness and response for Ebola Virus Disease, Cabinet noted with satisfaction that the Ministry of Health had reactivated the National Task Force on the Ebola Virus Disease and heightened the level of surveillance at all points of entry into the country with the border Counties taking their rightful lead. AS A MARK of the growing place of esteem for our Nation, Cabinet noted the stellar role of the Kenya Defence Forces (KDF) in securing the Kenya’s territorial waters as well as coastal areas of Somalia. The meeting appreciated that these efforts were also augmented by international navies, in particular from Asian and
European countries. These international security actions were typified by the liberation of hijacked ships and maritime patrols; which led to a marked decrease in acts of piracy since the year 2011. IN VIEW OF THIS REMARKABLE PROGRESS and Improved State of Security at Sea (Kenya’s Maritime Security), Cabinet today received with satisfaction a report by the Industry Group removing Kenyan waters from the high risk categorization. With this singular act and after over a decade long wait, our ports at Kilindini and the newly inaugurated Lamu Port have attained a favourable classification that fosters our nation’s business competitiveness. This development bolsters our national endeavour to position Lamu Port as a transshipment hub.
CABINET OFFICE EXECUTIVE OFFICE OF THE PRESIDENT Tuesday, 15th November, 2022