Kenya National Chamber of Commerce and Industry (KNCCI) in partnership with Kenya Business Guide (KBG) and the Strathmore Business School (SBS) hosted a policy breakfast on Micro, Small, and Medium Enterprise (MSME) Development.
Making the keynote remarks Kenya National Chamber of Commerce & Industry CEO Angela Ndambuki noted that MSMEs represent an untapped source for economic growth, social transformation, and employment generation in Kenya and thus there was need for a concerted effort and collaboration among key actors, players, and stakeholders to share information and insights for the sustained development of this sector.
“Micro, Small and Medium Enterprises (MSMEs) have been recognised across the World by Governments, development institutions, think-tanks and academics as a key driver of economic growth and prosperity. Their nimble size and flexible nature encourages adaptation and innovation to drastic changes in the market and operating environment. Feeding into the value chains of larger companies across borders, they obtain both competitive niches and support to grow and expand their operations progressively employing more capital and labour,” said Ms. Ndambuki.
Speaking at the same event project lead Sahil Shah of the Kenya Business Guide presented a five-point policy framework for MSME Development in the country.
“An integrated approach is needed, which is connecting the five-point policy framework: information and awareness, legal and regulatory environment, access to finance, capacity building, and supporting infrastructure,” said Sahil.
Follow this link for more information on the five-point policy framework.