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SPEECH BY MS. ANNE WAIGURU, OGW, CABINET SECRETARY,

MINISTRY OF DEVOLUTION AND PLANNING DURING THE GLOBAL

ENTREPRENEURSHIP SUMMIT AT THE STRATHMORE BUSINESS

SCHOOL HELD ON 8TH JUNE 2015

Your Excellency, the President and Commander In Chief of the

Defense Forces of the Republic of Kenya, Hon. Uhuru Kenyatta,

Cabinet Secretaries Present,

Principal Secretaries Present,

Chair of the Strathmore University Council, Bernadette Musundi,

Vice Chancellor Strathmore University, Prof. John Odhiambo

Dean & Head, Strathmore Business School Dr. George Njenga,

Distinguished Guests,

Your Excellency,

Let me take this opportunity to thank you for taking time, to grace the

launch of the Global Entrepreneurship Summit, and specifically, the Youth

Entrepreneurship Forum. The fact that Kenya is the first ever Sub-Saharan

African country to host a Global Entrepreneurship Summit, is testament

that Africa is the new frontier of global economic activity, and Kenya is well

positioned to be a key driver in this phase of Africas development.

Your Excellency,

Africas rise is real. We have economies that are growing faster than any

other in the world. This is evidenced by the fact that more than 50% of the

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continent registers a GDP growth of more than 5% annually! Africa boasts

of Sub-Saharan African economies that are growing 13% faster than any

other economies in the world. And this trend is projected to continue. In

addition, according to the Africa Development Bank, the natural wealth of

our continent is projected to earn USD 30 Billion per annum. This progress

has not gone unnoticed. Ernest & Young reports that 67% of all globally

competitive companies have established investment strategies for Africa.

Clearly, Africa is rising, and Kenya is rising with it.

Your Excellency,

The Jubilee governments efforts have led to global recognition on various

fronts. On the economy, we have been tapped by Bloomberg as the 3rd

fastest growing economy in the world! Kenya is also ranked as one of the 7

best countries for investments with the 2nd biggest market for retail

investors; one of the 21 Smart cities globally and the 7th most intelligent

city in Africa; We also have the best cargo airline in Africa and the 3rd best

airport in Africa; and we also boast the best think tank in Africa, KIPPRA.

Your Excellency,

The youth play a critical role in this Kenyan story. Innovations especially in

the ICT tech industry have been driven by young people. In 2011, an

Austrian ICT technology expert, Alexander Oswald, gave a TEDx talk in

Vienna, titled Why Kenyans Do it Better. He ran through the various

mobile solutions ranging from MPESA, MyOrder, M-Farm and Kilimo

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Salama, innovations that had been done in that year, in the case of the

latter 3, that were simple solutions yet creating some profound impact and

efficiencies in the daily lives of ordinary mwananchi. In his conclusion he

noted that the top 10 rich countries could be looking to Kenya, to find out

how it is done in mobile solutions. Your Excellency, one of these solutions

My Order, was recently acquired by international investors to a tune of

Ksh100Million.

Your Excellency,

As policy makers we need to ask ourselves why ICT techpreneurship, is

thriving, and why the young people seem to be doing very well in this

sector? Secondly, we need to ask ourselves how we can harness this sector

to thrive, and position Kenya as the go-to techdeveloper in Africa and

beyond? And third, how can we borrow lessons from this sector that can

be replicated in other sectors?

In answering the first question, the biggest success of the ICT industry in

Kenya, has been in the development of home grown simple solutions to

our everyday challenges. MPESA was a solution to the widely unbanked

population for example. Our innovation should be driven towards solving

our common challenges, not necessarily adopting what others have

produced.

Secondly, the ICT sector, thrives on non-conventional means, out-of-the

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box approaches and freedom to explore and express. Innovation is

everything, for a growing economy such as ours. We need to encourage

innovation, research and trial. We need to allow innovators to make

mistakes and start over. Incubation labs where innovations are generated

should be available not only for the ICT sector but also for other sectors,

so that sectors can develop new ideas, new solutions and set themselves

apart.

Your Excellency,

As a country we are poised for economic take-off, our recent ascension to

middle-income status, and the 9th largest economy in Africa, are useful

stepping stones towards this take-off! I believe that the conversations we

will be having today, and in the Global Entrepreneurship Summit, will not

only confirm this, but provide the necessary impetus in pushing forward on

the same.

Thank you Your Excellency

It is now my humble duty to welcome you your Excellency to give your

remarks.