Ruto announces 50% tariff reduction for night-time manufacturing

The Star Kenya

Investors in the manufacturing industry will now enjoy a 50 percent electricity tariff reduction for night production, President William  Ruto has said. https://rb.gy/al099t

Transcript

00:00 [MUSIC]

00:10 >> You work for how many hours?

00:19 >> Eight hours.

00:20 >> Eight hours.

00:21 >> For the many of you who have told me that there is opportunity in

00:26 the fabric space because a lot of fabric that is currently being used in

00:31 our EPZ comes from imports from other countries.

00:36 We have an opportunity as a country and

00:37 we are seizing that opportunity to produce cotton locally.

00:41 Secondly, many companies have asked us also about the cost of power.

00:49 And we are working on how to make sure that

00:54 the cost of power is investor friendly, is manufacturing friendly.

00:59 And the first step we have agreed with industry is that

01:03 those who will produce at night because we have excess power at night,

01:10 we are going to reduce the tariff by 50%.

01:15 [APPLAUSE]

01:21 Initially, it used to be a requirement that for

01:25 you to benefit from that 50% tariff at night,

01:29 you must produce at full capacity during the day.

01:31 We have since.

01:33 From the first of this May, that requirement will not be necessary.

01:40 So you can produce- >> [APPLAUSE]

01:44 >> At any time that you wish and

01:47 take advantage of reduced power tariff.

01:51 >> The Kenyan apparel business and

01:53 textile sector is large, fast growing, and a very exciting sector.

01:57 I think among the most exciting sectors in all of Kenya.

02:01 And this gathering represents a robust opportunity for the industry.

02:05 An industry with skilled and trained workers.

02:09 High quality manufacturing and

02:10 strong relationships with global buyers and global markets.

02:15 We have US buyers here today including Walmart, PVH, the children's place,

02:20 who are already sourcing from Kenya or

02:23 are exploring new relationships with many of the companies here.

02:27 We're also joined by global designers and manufacturers including Singtex, PM&J,

02:33 and Hoplum, who supply for major US brands like Target.

02:37 And are exploring potential new partnerships here in Kenya.

02:41 [BLANK_AUDIO]

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