- KEPSA urged SMEs to diversify markets and supply chains to reduce risks from global disruptions.
- CEO Carole Kariuki encouraged businesses to embrace AI and digital tools to improve competitiveness.
- She called for stronger public and private sector collaboration to address finance, taxation and market access challenges.
Kenya’s small and medium-sized enterprises (SMEs) have been urged to diversify their markets, supply chains and sources of raw materials to cushion themselves against the growing impact of geopolitical tensions and global economic uncertainty.
Speaking at the Third Annual SME Conference, Awards and Exhibition, Kenya Private Sector Alliance (KEPSA) Chief Executive Officer Carole Kariuki said businesses can no longer afford to depend on a single export market or supplier, warning that conflicts, shifting trade dynamics and volatile economic conditions continue to disrupt global trade.
“You wake up one day and there is war in one region, the next day something else has happened elsewhere. If your market was in that region, you suddenly have to look for another market,” said Kariuki.
She said the rapidly evolving global business landscape demands that entrepreneurs become more strategic and better informed, citing technological disruption, shifting consumer preferences, climate change and geopolitical uncertainty as factors that have made business planning increasingly complex.
Kariuki urged SMEs to closely monitor global trends and leverage digital technologies to access market intelligence that can help them anticipate risks and identify emerging opportunities.
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She also encouraged businesses to adopt artificial intelligence and other digital tools to enhance efficiency, boost competitiveness and respond more swiftly to changing market conditions.
Kariuki added that Kenyan enterprises should not only build resilience against external shocks but also pursue new export opportunities by improving product quality and expanding into international markets.
She acknowledged that SMEs continue to grapple with challenges including limited access to finance, taxation and market access, stressing that stronger collaboration between the government, financial institutions and the private sector will be critical in building resilient enterprises capable of weathering future disruptions.
By Frank Mugwe
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