This archive report was first published on 24 July 2019.
On 1st September 2019, a new excise stamp system is set to take effect in Kenya, aimed at combating counterfeit goods and illicit trade. The Kenya Revenue Authority's (KRA) Excisable Goods Management System (EGMS) is the latest measure to tackle these issues.
The Kenya Association of Manufacturers (KAM) has raised concerns that the new system will increase their operating expenses and capital expenditure, despite its potential benefits in fighting illicit products.
The manufacturing sector in Kenya is a significant contributor to the economy, creating jobs and contributing to national income. However, industry players have long complained about high operating costs.
According to KAM's chairman, Mr. Sachen Gudka, the sector needs to be able to sustainably produce goods and services while creating jobs for many in the country. He emphasized the producers' commitment to Kenya's economic advancement.
