The government is considering making membership in the Kenya National Chamber of Commerce and Industry (KNCCI) mandatory for all registered businesses in the country.
According to Trade and Investments Cabinet Secretary Moses Kuria, the ministry plans to present a proposal to the Cabinet within the next 30 days, seeking approval for the activation of mandatory registration and annual membership charges.
Under the proposed scheme, businesses would be required to pay a minimum annual membership fee of Sh50,000.
However, the fees vary depending on the category of the business. The charges range from Sh50,000 Shillings for the enterprise category to Sh5 million for the patron category.
Kuria emphasized that mandatory registration and membership will play a crucial role in streamlining Kenya's vast informal business sector.
By bringing these businesses into the formal economy, the government aims to facilitate stronger linkages with global markets and enhance opportunities for growth and expansion, according to the CS.
The Kenya National Chamber of Commerce and Industry serves as a platform for businesses to network, collaborate, and access valuable resources and information.
Making membership mandatory would ensure that businesses benefit from the Chamber's services and contribute to the development of the country's economic landscape.
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However, the proposal has generated mixed reactions from the business community.
While some believe that mandatory registration would provide legitimacy and credibility, others express concerns about the financial burden it may impose, especially on small and medium-sized enterprises.
The government's move reflects its commitment to promote formalization and create a conducive business environment in Kenya.
By encouraging businesses to join the Chamber of Commerce and Industry, the government aims to foster growth, support entrepreneurship, and enable businesses to thrive in both local and global markets.
As the proposal awaits cabinet approval, businesses across the country eagerly anticipate the final decision.
If passed, the mandatory registration and annual membership fees would mark a significant milestone in the efforts to strengthen the business sector and pave the way for enhanced collaboration and economic growth in Kenya.