The government has reaffirmed its commitment to supporting Micro, Small and Medium Enterprises (MSMEs), positioning them as a pillar for economic transformation.
Speaking Thursday morning at the launch of the National Organising Committee (NOC) for the 25th East African Community (EAC) MSME Trade Fair in Nairobi, the Cabinet Secretary for the Ministry of Cooperatives & MSME Development, Wycliffe Oparanya, emphasized that MSMEs are a priority sector within the current economic framework and are key to job creation and innovation.
“We must create a conducive environment for MSMEs to thrive. They hold the power to transform this economy from the grassroots up,” the CS said, while acknowledging challenges such as tax-related harassment and regulatory hurdles that continue to hinder growth in the sector.
The CS highlighted that this year’s fair will centre on four key pillars for MSME growth which include: Access to Finance, the CS noted hat the government will make efforts to ensure more resources are allocated to MSMEs, and that interest rates remain affordable.
Similarly, Access to Markets where the government plans to remove trade barriers within the East African Community (EAC) to enable MSMEs to reach a regional market of over 300 million people.
Digital Transformation is the other key pillar where the government aims to support MSMEs in adopting digital tools and platforms for growth leveraging on the high mobile penetration and innovation in Kenya.
Additionally the Green Financing which the CS says will be prioritised to empower MSMEs to adopt sustainable practices and combat climate change.
Principal Secretary, State Department for MSME Development, Susan Mang’eni assured the MSME sector that the fair will be an opportunity to attract investors, establish trade linkages to access regional markets in the East African region.
Principal Secretary for the State Department for Trade, Regina Akoth Ombam emphasised the role that MSMEs have in the economic transformation of Kenya, to create jobs for youth, and advance the manufacturing sector.
Principal Secretary, State Department for Science, Research and Innovation Prof. Abdulrazak Shaukat, underscored the role of Science, Research and Innovation plays a critical role in the MSME Sector, calling for closer collaboration and building synergies to support innovations and funding for commercialisation.
Regional Project Manager for the EAC MSME Trade Fairs, Richard Muteti reflected on the long-standing success of the Jua Kali/Nguvu Kazi initiative, with Kenya consistently setting the standard in manufacturing and innovative enterprise support.
Kenya is hosting the trade fair for the seventh time, and this coincides with the tenure of President William Ruto, as the chair of the Summit.
The EAC MSME Fair has, over the years, evolved into a major regional platform for innovation, entrepreneurship, and economic transformation.
The President of Kenya remains the patron of this initiative, demonstrating the highest level of national commitment.
