23/08/2024
Accompanied Hon CS Wycliffe A. Oparanya of Ministry of Cooperatives & SME's at the inaugural Annual SME Conference, Awards and Exhibition tagged “Unlocking SME financing and scaling up innovation for accelerated growth” hosted by Kenya Private Sector Alliance (KEPSA)
The event running alongside with the launch of MSME Gateway-, a digital platform is aimed at Bridging the Gap between SMEs, Financial institutions, and Business Development Service providers including BDIT COLLEGE which assists MSME's Innovate, Grow, Scale and access affordable financial solutions.
Micro, Small and Medium Enterprises (MSMEs) are the backbone of our economy, contributing significantly to employment generation, innovation, and GDP growth. The sector plays a catalytic role in driving inclusive and sustainable economic development in Kenya while creating positive social change. SMEs are the largest employers in Kenya, providing jobs to over 80% of the working population.
As we are all aware, SMEs particularly in the manufacturing sector have the potential to generate significant employment opportunities, especially for the burgeoning youth population in Kenya. MSME Sector is labor-intensive and can significantly contribute to reducing unemployment and underemployment, thus addressing socio-economic challenges.
The MSME Sector provides an innovation hub, often developing new products, services, and business models that drive economic growth. The sector fosters entrepreneurship, which is essential for a dynamic and competitive economy.
SME’s in Kenya have heavily invested in innovation which is a strategic imperative for our nation's long-term prosperity. This not only contributes to technological advancement but also fosters the development of specialized skills within the workforce. By investing in innovation, we are laying the foundation for a knowledge-based economy that can compete on the global stage.
is Now Good.
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