The current political tumult in Kenya has taken a huge toll on the country’s mining sector, Cabinet Secretary Dan Kazungu has said.
The country lost the hosting rights due to the current political situation.
The Mining CS stated that investors fear injecting money in the sector given the tense political situation witnessed in the country over the past few weeks.
Such is the situation that has seen Kenya lose an opportunity to hold an international mining forum slated for 2019. The hosting rights for the International Colored Gemstone Association (ICA) Congress was cancelled and instead awarded to Bangkok in Thailand.
"It is sad to lose such an investment conference that could have busted our mining industry. The conference is of the same magnitude with the world cup tournament because it comprises of more than countries that are practising mining and exploration activities," the CS said.
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Likewise, Mr Kazungu said the political stalemate is likely to affect the launch of the three-year Nationwide Airborne Geophysical Survey project slated for December.
“A team of experts from China tasked with carrying out the activity arrived in the country in September but the political situation has put their activities on hold,” he said.
The Sh7 billion project will help in mapping the country’s mineral and natural resources with the aim of attracting more investment into the country.
Members of the National Super Alliance (NASA) party have been staging demos in the country as they seek to have the electoral body reformed ahead of the Oct 26 repeat polls. This despite the government banning the demos which they say have been characterized by destruction of property and attacks on police.
