Public, private sector collaboration will propel innovation, change
Prime Cabinet Secretary Musalia Mudavadi has insisted that only Public and Private sector collaborations can propel innovation and change, in the country.
Speaking during the launch if the Absa Bank Kenya foundation in Karura, Mudavadi said the country as at now has no capacity to address all competing needs.
“This underscores the urgent need for leveraging collaboration and partnerships between the Government, private sector and other stakeholders to scale up support for enterprise development.
“The convergence of the public and private sectors, therefore, represents a potent alliance capable of propelling innovation and instigating change,” he said.
The Prime Cabinet Secretary said that collaborative approach will enable the country to harness the respective strengths of each other, with the public sector focused on championing equity and justice, and the private sector on agility and capacity for innovation.
He noted that the Kenya Kwanza government maintains an open policy and welcomes ideas that can jointly scale up interventions to address the challenges facing communities and promote shared prosperity for all.
Mudavadi said such collaboration will provide the perfect opportunity to exchange ideas on how to harness the synergy of diverse perspectives, resources and expertise that will contribute to meaningful progress.
“It is inspiring to see so many responsible corporate organizations and development institutions gathered here today
, further cementing the recognition of the immense power of partnerships in reshaping our society and making it a better place for the present and future generations.”
He added that the launch of Absa Foundation is timely, given the considerable pressure on Government resources resulting from limited tax and external resources available to support competing poverty alleviation and growth challenges, including priority programs in education, health, infrastructure and climate change induced vulnerabilities.
He urged the foundation to broaden new areas where the Government and the financial services sector can work together enhance climate change adaptation and mitigation.
This includes jointly mobilizing capital, driving innovation and establishing frameworks for promoting sustainable development, Mudavadi stated.
“I presume you will take this opportunity to identify critical areas of collaboration, including supporting the Government to scale up the ongoing tree-planting agenda. This will enable us to achieve the target of planting 15 billion trees even before 2032.”
He further commended Absa Bank Kenya for establishing Absa Kenya Foundation saying that they have now embarked on a significant journey to uplift the livelihoods of the community that supports their business.
The Prime CS said Absa is now walking on a pathway that other corporate philanthropists, including Safaricom Foundation, M-Pesa Foundation and Mastercard Foundation, have charted through their contribution to the betterment of society.
“These corporate foundations, collaborating with donors and partners, have invested billions of shillings in strategic community empowerment programs that have changed the livelihoods of millions of Kenyans.
“The Government appreciates the focus of your foundation on priority areas of our economic development including Entrepreneurship, Education and Skills, Resource Management, Health and Humanitarian Relief. These economic and social development pillars will support the Bottom-Up Economic Transformation Agenda and Kenya Vision 2030.”
Present at the launch was environment, Climate Change and Forestry Cabinet Secretary Aden Duale, ABSA Bank Board Chairperson Charles Muchene, ABSA Bank Managing Director Abdi Mohamed among other stakeholders and partners.