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Kenya’s economy tipped to flourish in the New Year

The Kenya National Chamber of Commerce and Industry (KNCCI) has expressed confidence that Kenyans will benefit from more local and international business opportunities in 2023.

In his New Year’s message to Kenyans, the agency’s boss Richard Ngatia explained that there are strong indicators that the economy will flourish in 2023. Mr Ngatia was recently appointed a member of the World Chambers Federation General Council.

The appointment earned him a congratulatory message from President William Ruto. The Head of State observed that the appointment was important for the development of Kenya’s MSME capital agenda ahead of the Kenya International investment conference in March 2023.

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“During this festive season, on behalf of the Kenya National Chamber of Commerce and Industry (KNCCI), we take time to reflect upon the good things we have done together like our partnership with you last year. We appreciate working with you and hope that the year that has just come in will bring you happiness and success,” Ngatia said.

Mr Ngatia, however, said the New Year season ushers in an opportunity for renewal, fresh opportunities and for Kenyans to build on the successes of the old year and urged Kenyans to reflect with gratitude, the journey the nation has walked together with them last year.

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“As we usher in the new year 2023 draws, we give thanks to the Almighty God for the Grace, provision, and protection extended to us as individuals, families, communities, as a nation, and as humanity. This new year reminds us of our shared humanity and the common values that united us in 2022 irrespective of colour, religion or county,” Ngatia said.

The Kenyan economy has shown signs of full recovery from the Covid-19 slowdown with remittances from Kenyans abroad totalling Sh500 billion this past year.

Sales from coffee and tea have also provided the country with the much needed foreign exchange with Ngatia has accompanied President Ruto to the USA to negotiate and oversee several trade deals.

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