Kisumu Governor Anyang’ Nyong’o has hailed the Micro Small and Medium Enterprises (MSMEs) as not only economic actors but the heartbeat of communities, enterprises that create jobs for youth.
Speaking during the Fourth Kenya Public-Private sector “MSMEs Dialogue” in Kisumu, Nyong’o added that the said enterprises create jobs for youths, sparks innovation, support families and drive the very engine of both the County’s and National’s economic growth.
He added that in Kisumu County there has been deliberate and strategies in creating an enabling environment for MSMEs to thrive
“First, the Buy Kisumu,Build Kisumu policy -our localized adaptation of the national By Kenya, Build Kenya strategy which seems to enhance the competitiveness ,visibility and consumption of goods and services produced within the county,” he added.
He further said that already there is an implementation on Entrepreneurship Clinics Platform where MSMEs, County officers ,national agencies and private sector actors sit together to identify challenges and design practical & actionable solutions.
“The MSME’s landscape in Kenya holds immense potential especially within the spheres of sustainable financing and value chain development.” He said
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He stated 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 .
The Cabinet Secretary for Co-operatives and MSME’s Development Wycliff Oparanya speaking during the function said MSMEs are the backbone of Kenya’s economy as they contribute over 40% of the County’s GDP and create the majority of employment opportunities across the county.
Fredrick Odiero
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