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.