Kibaki urges Kenyans to ignore ongoing politicking

Kibaki urges Kenyans to ignore ongoing politicking Written By:PPS,    Posted: Wed, Jul 18, 2012

President Kibaki reminded Kenyans that elections are not due until March next year. President Mwai Kibaki has urged Kenyans not to be distracted from their daily economic activities by the ongoing politicking. The President appealed to wananchi to stay focused and not lose track of the many economic and social engagements that they must attend to. Saying there is much work that lies ahead, President Kibaki reminded Kenyans that elections are not due until March next year. To those seeking political office, the Head of State advised them to be issue oriented. "Our democracy has now come of age.  Sell your ideas peacefully without resorting to name calling," President Kibaki said. President Kibaki was speaking Wednesday at the Nation Centre when he launched the trading of C.I.C. Insurance Group shares listed on the Nairobi Securities Exchange. The Head of State, at the same time, called on insurance companies to develop innovative products that will serve more Kenyans. The President expressed concern that although insurance companies in Kenya have been experiencing impressive growth over the years, insurance penetration in the country remains very low at about 3 per cent. He, therefore, encouraged Kenyans to think proactively about the future of their loved ones and take steps to ensure that their financial security is guaranteed, saying one way of doing this is by taking an insurance cover. President Kibaki noted that the reluctance by many Kenyans to take up insurance is tied to some cultural beliefs which discourage people about thinking of death. "However, failing to plan for one's future by taking insurance or saving consistently, often means that when a family's bread winner passes on, their families are left struggling financially," President Kibaki said. Noting that micro-insurance offers a vehicle for reducing vulnerability of low income earners, the President commended C.I.C. Insurance for leading the way in micro-insurance in Kenya. Said the President "I also commend the company for taking the lead in developing new insurance products that target crucial sectors of the economy like the livestock and crop insurance.  These new products address the risks in the agriculture sector, which remains the backbone of our economy." President Kibaki also saluted the co-operative movement for the support it has extended to many organizations, saying the co-operative movement is part of the economic success story recorded in the country in the last ten years. "Today one out of every four Kenyans is a member of a co-operative society while about 60 percent of our people directly or indirectly derive their livelihood from Co-operative activities," President Kibaki said. He observed that co-operatives are responsible for about 40 per cent of the country's Gross Domestic Product and about 30 per cent of national savings and deposits. For the co-operative movement in Kenya to maintain its position as the leader in the continent and respond effectively to the interests of members, the President said it must be committed to world-class corporate governance practices. In this regard, President Kibaki directed the Ministry of Co-operative Development to continue putting in place policies and practical measures that will ensure that co-operatives across the country are managed professionally. Cooperative Development and Marketing Minister Joseph Nyaga, in his remarks, appreciated the budgetary allocations to his ministry to provide policy and other regulatory guidelines for better service delivery. Mr. Nyaga, on behalf of the 12 million member movement, also thanked President Kibaki for the many Head of State commendations to cooperative leaders in recognition of the role the sector played in the social-economic development of the country. The Minister said the cooperative movement in the country remained an integral part of the Government strategy of wealth creation and poverty reduction with activities cut across all the sectors of the national economy and contributed 43 per cent of the Gross Domestic Product and mobilized 31% of the national savings. Others who spoke during the occasion include the CIS Insurance Group chairman Japheth Magomere, Capital markets Authority chairman Kung'u Gatabaki, and Nairobi Securities Exchange chair Mr Eddy Njoroge. The occasion was attended by Defense minister and acting minister for Internal Security Yusuf Haji and senior government officials led by acting Head of Public Service and Secretary to Cabinet Mr Francis Kimemia.