In a bid to bolster Kenya’s economy, the government through the Ministry of Cooperatives and MSMEs Development has joined forces with Equity Bank to support Small and Medium-sized Enterprises (SMEs) in accessing capital, expanding markets, and building institutional capacity.
Speaking at the second edition of the Annual SME Conference, Cabinet Secretary Wycliffe Oparanya emphasized that SMEs are not just vital contributors to GDP, but living proof of Kenya’s economic resilience.
“SMEs make up all over 90% of Kenya’s economy and employ millions, they represent the hope of our people and the resilience of our nation,” Oparanya stated.
The event, held at the Kenya Institute of Curriculum Development (KICD), gathered stakeholders from both public and private sectors to engage in solutions-oriented dialogue, Oparanya announced the rollout of “MSMEs Connect,” a new digital initiative developed in collaboration with KEPSA. The platform brings together over 1,000 businesses nationwide to improve coordination, share resources, and shape policies through an inclusive, county-wide network.
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At the same event, Equity Bank Managing Director Moses Nyabanda underscored the bank’s evolving strategy to empower SMEs as global contenders. He announced the expansion of dedicated market desks including a newly launched German Desk to open up European and regional export routes for Kenyan businesses. Nyabanda emphasized the need for SMEs to formalize operations, integrate digital processes, and adopt governance structures that are investor-ready.
KEPSA’s Director of SME and Start-Ups, Mary Ngechu, offered a strong push for greater support of women-led businesses, stressing that digital trade, e-commerce, and evidence-based planning must replace outdated business instincts. “If we want SMEs to thrive, we must provide the right tools, data, and opportunities, particularly for women entrepreneurs who remain underserved despite their impact,” she said.
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Echoing this commitment, Equity Bank Director for SMEs, Collins Wanyonyi, revealed that more than 20 outbound trade missions primarily to the Democratic Republic of Congo, have unlocked immense bilateral opportunities for SMEs. He pointed to the bank’s training programs, delivered via webinars and value-chain workshops, as crucial enablers of growth.
The conference culminated in recognition of high-performing SMEs, but more importantly, it signaled the dawn of a new strategy that positions Kenya’s SMEs not just as local players, but as competitive forces on the global stage.
By Masaki Enock
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