SMEs

Kenya plans to facilitate small and medium-sized enterprises (SMEs) to access international markets, a government official said on Friday.

Francis Owino, Principal Secretary of State Department for Industrialization, told journalists in Nairobi that the bulk of Kenya’s exports are currently undertaken by multinationals and large corporations.

Business24

“We shall provide capacity building to enable SMEs to join the league of exporting companies,” Owino said during a forum for the review of the SME policy.

The east African nation is currently preparing a new SME policy that will be in place by the end of March.

He added that the new SME policy is expected to provide solutions that will help unlock the economic potential of the country.

The official observed that Kenya is promoting the expansion of small businesses because they provide the bulk of employment opportunities in the country.

“SMEs are also a key pillar of Kenya’s industrial revival because they have the ability to produce innovative products that can compete both regionally and globally,” he noted.

Owino added that Kenya is also keen to inculcate an entrepreneurship culture so as to encourage more Kenyans to start profitable businesses.

He observed that the government has recognized that entrepreneurship is a viable alternative to reduce the high level of unemployment. Enditem

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