Government should empower young people to have more opportunity and income
The Building Bridges Initiative report has recommended that the government builds the economy from the grassroots for Kenyans to realise meaningful development.
It said the tax base should be broadened but the overall taxation made low relative to competitor economies regionally and globally.
“We must entirely transform the way our economy operates if we are to deal with the present lack of jobs,” the report reads.
The BBI team said the government should empower young people to have more opportunity and income.
“Minimise taxation of new and small businesses by giving them a tax holiday of at least seven years as a support to youth entrepreneurship and job creation,” it reads.
It added that the government should nurture and open opportunities for youth to gain from their initiative, innovation and entrepreneurship.
“Increase employment and livelihoods by making it easier for small businesses to compete and grow at low cost and with minimal constraints.”
The BBI team further urged the government to reduce conflict over national resources distribution by treating all Kenyans as equal.
“This should take into account population, needed investment in health and agriculture, service provision and access to natural resources and livelihood opportunities.”
The share of public resources to every Kenyan should be carefully balanced to account for every Kenyan being treated as equal while ensuring that those who have been marginalised in the past or are being marginalised at present are given extra help where they need it, it recommends.
“The government must be focused on service delivery to settled and serviced areas, meaning services from the centre to the furthest point in the country rather than landmass.”
It further advises that lending should be to priority sectors.
“The government should deliver a policy that provides legal and regulatory guidelines for banks to lend a part of their portfolio to priority sectors such as micro, small and medium businesses, export credit, manufacturing, housing and agriculture,” it adds.
The government was also asked to undertake major effort to increase national domestic savings to at least 25 per cent of the GDP.