The Kenya Chamber of Commerce and Industry whose main role is to advocate interest for businesses, provide a platform for networking as well as houses a resource center says it is taking a step forward that will benefit its members in the oil and gas sector.
According to KCCI chairman Kiprono Kittony the company will be offering an investor advisory role in the oil and gas sector.
Already the organization’s Turkana chamber is developing capacity in local businesses where the bulk of exploration work happening in the county.
Kittony says that the chamber has identified challenges that face local investors with capital constituting among the biggest hurdles yet.
He adds that the exploration in Kenya has opened opportunities for partnerships between local and local investors as well as with their international counterparts and the chamber hopes to facilitate more interactions.
As per the current developments that have kicked off include a memorandum of understanding between the chamber and the UK Oil and Gas to identify companies that can tap in the value chain.
The chamber adds it is also working to ensure that there are existing legal and regulatory frameworks that can safeguard and attract investors into the country.
The chamber estimates that 6000 people will be employed by the sector during the development stage.
Kittony was speaking at the recently concluded 4th International Oil and Gas Conference and Exhibition in Nairobi.