Inaugral SME Confrence

The Cooperatives and MSME Cabinet Secretary,Hon Wycliffe Oparanya, has  launched the Inaugural Annual SME Conference, Awards and Exhibition tagged “Unlocking SME financing and scaling up innovation for accelerated growth”.

The MSME Gateway, a digital platform is aimed at Bridging the Gap between SMEs, Financial institutions, and business development service providers, provides a platform to celebrate and recognize outstanding innovations by SMEs and the enablers who have contributed to their success. 

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.

Despite the MSME sector receiving policy attention since independence, the sector continues to grapple with challenges revolving around access to credit, infrastructure, access to markets due to market barriers, low adoption of technology and innovation, among others. The Government at both National and County levels has put in place measures through a multifaceted approach to support growth of the sector.

The Government through the Ministry of Cooperatives and MSMEs Development, and other Public Sector Agencies; are undertaking several policy interventions to address the challenges affecting the sector. The renewed policy interventions will provide the sector with capacity to create sustainable decent jobs and ensure equitable distribution of wealth among the population.

 The policy interventions will be implemented through the Government’s Bottom-Up Economic Transformation Agenda (BETA) which has prioritized the MSME Economy among the five sectors that form the core pillars of Kenya Kwanza Administration. 

As the new Cabinet Secretary in charge of the MSME Sector, I wish to reiterate my Ministry's unwavering commitment to fostering the growth and development of our nation's MSMEs. We will work closely with KEPSA and other relevant stakeholders to create a conducive environment that supports MSME innovation, entrepreneurship, and competitiveness.