According to Cabinet Secretary Hassan Ali Joho, Kenya possesses a sufficient amount of minerals that, if properly utilised, might assist in paying off a significant portion of its enormous Ksh10.5 trillion debt.Speaking on Friday in Taita Taveta County at a meeting with local law enforcement, Joho issued a warning that going forward, state officials will need to crack down on illicit mining, making business as usual.
The Cabinet Secretary issued a warning, saying that anyone who abscond will face swift consequences.
“I refuse to be intimidated. I was tasked with this duty, and I had to carry it out. You have to assist us in delivering.
There are several opportunities in mining. At the moment, our nation is heavily indebted. I believe that mining our minerals will provide the necessary revenue to help the nation escape its current economic dilemma and pay off its debt,” the CS said.
Kenya’s mineral wealth is estimated to be worth over Ksh 3 trillion, with major contributions from minerals like titanium, gold, and soda ash.Titanium, extracted primarily from the Base Titanium project in Kwale, contributes approximately Ksh 14 billion annually to the economy through exports.
Gold mining, particularly in Western Kenya, is another significant contributor, with estimates suggesting it brings in around Ksh 15 billion annually.
Kenya is one of the world’s top producers of soda ash, with an estimated annual value of Ksh 9 billion from Lake Magadi.
Furthermore, it is anticipated that the nation’s undeveloped rare earth elements, found in areas like Kajiado, are worth billions.
Currently, the mining industry makes up 1% of Kenya’s GDP overall, although this percentage is predicted to increase as more exploration and investment are made.
By Newsmedia