Mining and Blue Economy Cabinet Secretary Ali Hassan Joho has urged Kenyans to seize opportunities in the country's mining sector, highlighting its potential for significant returns.
Speaking before the National Assembly’s Departmental Committee on Environment, Forestry, and Mining, Joho emphasized that the industry is currently dominated by foreign investors, who benefit from substantial investment returns.
Joho referenced the mining sectors in Indonesia and China, noting that these nations have generated massive wealth from their mineral resources. China, in particular, leads globally in mineral production, amassing over Ksh.28 trillion from metallic and coal production.
The CS explained that foreign investors successfully tap into the global mining market by diversifying their investments across critical minerals, reducing risk and maximizing returns. He urged lawmakers to back his initiative to create a robust policy framework to guide the sector.
Among the proposed strategies, Joho stressed the need to enforce royalty payments from foreign companies extracting minerals in Kenya. He expressed concern that foreign entities have operated without compensating local communities for over a decade, adding that royalties should now be paid when minerals are loaded for export.
"Ensuring that royalties reach affected communities is crucial. We’ve had foreign companies extracting our minerals for over ten years without contributing to the local economy. This needs to change," Joho stated.
He further pointed out that stricter monitoring would be implemented at border points, with experts and police officers deployed to ensure compliance. Joho also recommended that the Committee consider visiting Tanzania to study the progress of their mining sector.
The CS concluded by saying that these measures would create new opportunities for young Kenyans and enable them to benefit from the country’s mineral wealth.
