SPEECH BY HIS EXCELLENCY HON. UHURU KENYATTA, C.G.H.

, PRESIDENT AND COMMANDER IN CHIEF OF THE DEFENCE FORCES OF THE REPUBLIC OF KENYA DURING THE LAUNCH OF KENYA @50 COMMEMORATIVE COIN, KENYATTA INTERNATIONAL CONFERENCE CENTRE, NAIROBI, 9TH DECEMBER, 201 Distinguished Guests, Ladies and Gentlemen, It gives me great pleasure to preside over this occasion as we launch the Kenya@50 Commemorative Gold Coin that has been developed as an important landmar mar ing Kenya!s 50 years o" independence# Let me at the outset commend the $oard, %anagement and &ta"" o" the Central $an o" Kenya "or "acilitating the production o" a commemorative coin as a contribution to Kenya!s 'ubilee celebrations# Indeed, the gold commemorative coin is a be"itting tribute to Kenya!s Golden 'ubilee# (t the same time, I wish to commend the )ational *reasury "or its continued prudent management o" our public "inances and "or ensuring e""ective coordination o" "iscal and monetary policies# *his has ensured we have macroeconomic stability and steady growth o" our economy# Ladies and Gentlemen, *he Central $an o" Kenya "ounded in +,-- and its predecessor the .ast ("rican Currency $oard have been an integral part o" Kenya!s 'ubilee /ourney# During this time, the $an has played a pivotal role in supporting our economic development agenda by maintaining price stability and ensuring development and stability o" the "inancial sector# 0ur e""orts to e1pand Kenya!s economy since +,-2, /ust li e in any /ourney, has e1perienced some challenges, but the Central $an has always wor ed with the *reasury to restore calm and assure stability o" our "inancial mar et# *hese challenges notwithstanding, it is grati"ying to note that our economy has broadly en/oyed steady growth and stable price environment# Indeed, the Central $an should ta e pride in having contributed towards the progress we have achieved since independence, and in particular, the maintenance o" macroeconomic stability and the development o" the "inancial landscape over the last 50 years# (s you may be aware, a"ter the liberalisation o" our economy and the abolition o" the .1change Control regime in the +,,0s, the "ocus o" the Central $an was redirected to "ocus on monetary policy to contain in"lation# *oday, the $an !s principal ob/ect is the "ormulation and implementation o" monetary policy directed to achieving and maintaining stability in the general level o" prices# Ladies and Gentlemen,

*he Central $an has played a signi"icant role in driving re"orms in the "inancial sector# *hese re"orms have seen the sector continue to e1pand and to become more inclusive while maintaining stability, e""iciency and integrity# )otably, "inancial inclusion supported by the mobile money plat"orm is now driving economic growth through increased mobilisation o" deposits by "inancial intermediaries and increased access to "inancial services# *he uni3ue and innovative Kenya4pioneered mobile phone "inancial services are now celebrated all over the ("rican continent, and indeed globally# I will count on the Central $an in its pivotal role o" ensuring price stability and supporting "inancial sector development as we move to Kenya!s ne1t phase o" economic, political and social trans"ormation# Ladies and Gentlemen, *oday is not /ust about the launch o" a commemoration coin, it is also a time to re"lect on the symbolism o" the commemorative coin# *his coin tells Kenya!s story# December +5, +,-2 mar ed the beginning o" a new dawn "or Kenya as an independent nation# 0n that day, the world watched as a new "lag was hoisted, symbolising the birth o" an independent Kenya# 6rom the onset, the "ounders o" the young nation visualised a "lourishing state7 a political democracy guided by the virtues o" a representative government, in which the rule o" law applies e3ually to all# *he new nation was determined to prioritise and actuali8e the elimination o" poverty, ignorance and disease# Ladies and Gentlemen, 6i"ty years on, our country has made notable progress on the social, economic and political "ronts# Kenya is now one o" ("rica!s "astest growing economies and this is even be"ore the e1ploitation o" the newly "ound natural resources# It is a shining light on many "ronts, ranging "rom economic advances to improvements in human well4being as well as in sports and culture# ( stable democracy, Kenya is, in addition, a trailbla8er and a world leader "or inclusive "inancial services# Indeed, the gold that "orms the base material o" the coin represents the opportunities and plenty "ound in Kenya# 9e have tapped some o" these opportunities in agriculture, tourism, manu"acturing, trade and services# %ore recently we have been blessed with discoveries o" oil, gold, various minerals, coal and even water# 9e should together as Kenyans e1ploit these resource endowments responsibly and on a sustainable manner to achieve our desired prosperity and better 3uality o" li"e "or all Kenyans# Ladies and Gentlemen, *he map o" Kenya on the "ace o" the commemoration coin is a poignant reminder that we are one indivisible country# 9e should as Kenyans sa"eguard our sovereignty and territorial integrity at all times# *he diversity o" our :; counties

must always be our strength to be leveraged on to improve the livelihoods o" our people# 9e are at the moment underta ing the trans"ormational /ourney o" devolution to actualise the aspirations o" the Kenyan people as espoused in our new Constitution# <owever, as we savour the "ruits o" a devolved government, we must always remember that we are "irst and "or most Kenyans# *he national government will there"ore continue wor ing closely with the county governments to strengthen our nationhood as Kenyans# Ladies and Gentlemen, *he "lag that is embossed on the map o" Kenya is a symbol and identity o" our hard won "reedoms# *he "ounders o" our nation "ought long and hard shedding their blood "or our independence and we will eternally be grate"ul to them# *hey laid a "irm "oundation "or Kenya!s political democracy, a sound economy and a vision to eliminate poverty, ignorance and disease# 9e have done well but much more remains to be done# Going "orward in the ne1t 50 years we must put in place and implement policy measures to loc in and sustain a high and inclusive growth that e1pands economic opportunities, generates /obs and reduces poverty throughout the country#

6or this reason, my Government has "ormulated a *rans"ormative Development &trategy, which "ocuses on "our broad areas, namely= 6irst, investment in *ransport, Logistics and other In"rastructure, including energy to reduce cost o" doing business and ma e our products cheaper and competitive# &econd, Creating a Conducive $usiness .nvironment by maintaining macroeconomic stability, deepening structural re"orms and improving security and en"orcement o" law and order to encourage investment and e1pand employment7 *hird, investing in >ural Development and 6ood &ecurity in order to e1pand "ood supply, reduce prices and support e1pansion o" agro4processing industry7 and 6ourth, investing in ?uality and 6ree (ccess to <ealthcare and .ducation as well as &ocial &a"ety )et to reduce burden on the households and complement and sustain our long term growth and development#

*he Central $an o" Kenya, together with other public institutions, is e1pected to play a leading role in ensuring a conducive business environment, including a low and stable price regime# *he Government will shortly introduce a new law that will strengthen the institutional "ramewor o" the Central $an to better deliver on its core mandate o" price and "inancial stability, a prere3uisite "or sustainable economic growth and development# *his law is e1pected to be in place by early 50+:#

(t the .ast ("rican Community, we are now entering into the third phase o" our integration agenda, the .(C %onetary @nion "ollowing the signing o" the .(C %onetary @nion Arotocol on )ovember 20, 50+2# In this regard, there"ore, I urge the Central $an and the )ational *reasury to wor closely to ensure that the .ast ("rican Community %onetary union is "ully realised "or the bene"it o" all .ast ("ricans# Guided by the words o" the national anthem B%ay we dwell in unity, peace and liberty, plenty be "ound within our bordersC the nation loo s to the "uture with optimism, certain that prosperity is destined "or this great land o" K.)D(# %y Government is committed to trans"orming the lives o" all Kenyans in the coming years# Let us all /oin hands on this /ourney and E!pamo/a tusonge mbele#!! Ladies and Gentlemen, 9ith these "ew remar s, it is now my distinct honour and privilege to declare the Kenya @50 commemorative gold coin o""icially launched# *han Dou, God $less Kenya and God $less Dou (ll#