Denis Kakembo, featured speaker at the upcoming Kenya Mining Forum. He will be part of a session on “State of the market – key drivers for investment and projects development”.
1) Let’s start with some background on Deloitte’s interests in the mining industry in Kenya and the region.
Deloitte provides professional services to governments, mining companies and their subcontractors in Kenya and the East African region as a whole. These range from audit services, tax compliance and advisory services as well as other consultancy services related to mining operation optimisation.
2) How promising is the mining industry in Kenya?
Little is so far known about Kenya’s mineral potential. The impending airborne survey will put in perspective the mineral wealth potential of the country. There are also current initiatives being driven by the Ministry of Mining to have in place a favourable and competitive mineral fiscal regime. All the right messages are being put across to the investors but it remains to be seen whether the government will walk the talk.
3) What in your view are the main challenges?
Weak commodity prices, but this is a temporary phenomenon. The scale of exploration activities also needs to be boosted as today’s discoveries will translate into tomorrow’s production.
4) How important is the updated Mining Act in your opinion?
The new act marks a new dawn in the mining industry and addresses all issues that will ensure the sustainable development of the sector from exploration to exploitation and mines closure.
5) What will be you message at Kenya Mining Forum?
Understanding Kenya’s geology and mapping out its mineral potential are key. The impending airborne survey will address this. An appropriate fiscal and tax regime is key as it will determine whether the investors will spend their risk capital on mineral exploration and exploitation activities.