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Roles played by insurance industry in promoting the development of Kenyan economy are;Employment creation insurance companies provided employment opportunities either directly or indirectly to individuals who would otherwise be unemployed.Insurance companies create confidence for the investors who are able to invest in risky but profitable areas in that they are assured of compensation in case of a loss.Insurance companies provide revenue for the government through profits realized and salaries for the employees when taxed.The business is continuous even with the occurrence of the risk because the insured is compensated. Thus business people conventure even in risky ventures.The amount contributed in the insurance company can be used as a security for a loanSome policies in life insurance encourages savings. The amount contribute is owners savings. This money can be invested later once the policies matures.
Pillars of Nyayo Philosophy in Kenya are;PeaceLoveUnity
National Philosophy in Kenya include;African SocialismHarambee spiritNyayoism
Ways in which the government of Kenya promotes entrepreneurial development include;Building or improving all infrastructure such as roads, sewerage systems etcImproving the level of securityLowering taxation/giving tax exemptions or holidaysProviding subsidiesControlling the cost of electricity and petroleum products/make it affordable to encourage production