This archive report was first published on 19 December 2019.
As Kenya approaches the 'Big Four Agenda' pillar of manufacturing, the introduction of Excisable Goods Management System (EGMS) tax stamps on bottled water, juices, energy drinks, soda, and other non-alcoholic beverages has given manufacturers a chance to thrive.
According to the Excise Duty Act 2015, Section 28, and EGMS Regulations 2017, the digitisation of tax stamps is a significant step towards ensuring the quality and safety of the foods and beverages consumed in Kenya.
With the extension of the track and traceability system, manufacturers can now easily monitor and track illicit goods, which will have a multiplier effect of creating more job openings and turning Kenya from a 'walking nation' to a working one.
Moreover, the introduction of digital tax stamps will make it easier for consumers to distinguish genuine products from fake ones, promoting consumer protection and loyalty to local brands.
As a result, manufacturers can readily access both short- and long-term loans, which means that cash-flow problems will be a thing of the past.
Lastly, the industry can lead the way and bring about the change Kenya yearns for by complying with measures like digital tax stamps, thereby eliminating graft and promoting trust in the public service.
