Extractives currently contribute just one per cent to Kenya’s national income; Current estimates suggest the sector may grow to 10 per cent of GDP
NAIROBI, Kenya, December 11, 2013/ — The African Development Bank (AfDB) (http://www.afdb.org) has today launched the Information Center for the Extractive Sector (ICES), a platform that promotes knowledge-based dialogue with the aim of promoting informed policies for the sector.
AfDB Director for the Eastern Africa Resource Centre (EARC) Gabriel Negatu pointed out the timeliness of the information center, saying the opportunity to use the sector to accelerate national development and promote economic growth requires careful planning at this critical stage.
According to government estimates, extractives currently contribute just one per cent to Kenya’s national income, and less than two per cent of export earnings. This contribution is set to grow significantly. Current estimates suggest the sector may grow to 10 per cent of GDP.
“AfDB supports the Africa Mining Vision, which sets out how mining can be used to drive continental development. We believe that, as stakeholders, we has a special role to play in promoting knowledge-sharing in Kenya, given our proven track record as a trusted convener and facilitator of Africa’s sustainable development agenda. In order to assist all those who will be affected by extractive industries – citizens, civil society organizations, businesses, development partners and donors – the AfDB has set up the Information Center for the Extractive Sector,” he said.
Housed by the AfDB, the information center will be supported by the United Nations Development Programme and Governments of Australia, Canada and the United Kingdom.
African Development Bank (AfDB)