KISUMU, Kenya –The Micro, Small, and Medium Enterprises of Kisumu are not just economic actors, but the heartbeat of communities, says Governor Anyang Nyong’o.
Speaking during the Fourth Kenya Public-Private sector “MSMEs Dialogue” in Kisumu, Nyong’o added that the said enterprises create jobs for youths, spark innovation, support families, and drive the very engine of both the County’s and the National’s economic growth.
He added that in Kisumu County there have been deliberate strategies in creating an enabling environment for MSMEs to thrive
“First, the Buy Kisumu, Build Kisumu policy -our localised adaptation of the national Buy Kenya, Build Kenya strategy which seems to enhance the competitive essence, visibility and consumption of goods and services produced within the county”, he added.
He further stated that an implementation of the Entrepreneurship Clinics Platform is already underway, where MSMEs, County officers, national agencies, and private sector actors come together to identify challenges and design practical & actionable solutions.
The MSMEs landscape in Kenya holds immense potential, especially within the spheres of sustainable financing and value chain development.
He also said that the County Government, working with financial institutions, has rolled out credit guarantee schemes that reduce lending risks and encourage banks to extend credit without demanding excessive collateral.
“We are further developing value chains and fostering local, regional and international market linkages to our enterprises” Nyong’o said.
He, however, lamented that despite the progress made, many MSMEs continue to face barriers in accessing affordable credit and broader market opportunities.
Making his remarks at the event, the Cabinet Secretary for Co-operatives and Micro, Small, and Medium Enterprises Development (CS) Wycliffe Oparanya, said MSMEs are the backbone of Kenya’s economy.
“They contribute over 40 percent of the country’s Gross Domestic Product (GDP) and create the majority of employment opportunities across the country,” Oparanya said.
