Strengthening the MSMEs Sector

Ahead of the presidential visit to commission the NASEWA Industrial Park in Busia next week, The Ps for MSMEs Development, Hon. Susan Mangeni, held an engagement with the Busia Professionals Association to discuss ways of collaboration in strengthening the MSME sector and tapping into the massive potential that the region has.

Once commissioned, the Nasewa industrial zone is expected to generate thousands of direct and indirect jobs, particularly for the local population, including the youth. These jobs will range from manufacturing, logistics, and processing to services like security and maintenance thus improving the livelihoods.

The PS emphasized the importance of mapping the entire region which will inform on the Key value chains that will revolutionize the region from traditional value chains to commercializing value chains. Noting the strategic location, the Ps has called on diversification and investment in key value chains like the Edible oils, rice farming, fish farming, Agricultural value chain in the cotton sector and construction industry. 

“Our region is strategically located to facilitate trade within Kenya and the East African region, leveraging proximity to the border with Uganda. We attract both local and foreign investors looking to set up manufacturing and processing plants like in the Edible oils. ’She noted

In addressing the challenge of start-up failure, the PS has challenged the professionals to work on having Mobile business clinics that will support and mentor new entrepreneurs on both managerial and how to run enterprises. She also challenged them to create awareness and mobilize citizens to take advantage of key government initiatives such as the Hustler Fund and Uwezo fund emphasizing on their role in empowering individuals at the bottom of the economic pyramid by providing access to affordable credit. 
“Alot of start ups fail not because of finance, but because some lack adequate managerial skills to navigate and make decisions that will see the SME transit to medium enterprise” she noted. We must tap into our agencies like KIE and MSEA which offer trainings and capacity building for MSMEs.

To support start-ups in Kenya, the Government has developed a Start-Up Bill to enhance the already robust innovative environment within the MSME Sector. The Bill once enacted will create a favourable environment for innovators, attract talent and capital to Kenya by offering appropriate incentive.

PS Susan urged the association to remain committed to collaborative efforts, ensuring that no one is left behind. She called on them to tap the massive and rich skills and knowledge from youth and retirees to mainstream opportunities in their communities.

“Our State Department has agencies like UWEZO FUND, KIE, MSEA And Hustler fund which have exciting programs. These programs are designed to foster growth, resilience, and inclusion. We also have projects like Centre for Entrepreneurship project, KJET (Kenya Jobs Economic Transformation Project) and NYOTA (National Youth Opportunities towards Advancement) which seek to address some of the challenges’’ quoted the Ps

The Ps reaffirmed the Government's commitment to creating a supportive environment for MSMEs to thrive, recognizing their vital role in our economic development and will continue to provide the resources and support they need to succeed.