Cooperatives Cabinet Secretary (CS) Wycliffe Oparanya has affirmed that the government is committed to undertake several policy interventions to address the challenges affecting the sector.
The CS, speaking during the launch of the Inaugural Annual SME Conference, Awards and Exhibition yesterday hosted by the Kenya Private Sector Alliance (KEPSA) at the Kenya Institute of Curriculum Development (KICD), said the renewed policy interventions will provide the sector with capacity to create sustainable decent jobs and ensure equitable distribution of wealth among Kenyans.
“As the new Cabinet Secretary in charge of the MSME sector, I wish to reiterate my ministry’s unwavering commitment to fostering the growth and development of our nation’s MSMEs. We will work closely with KEPSA and other relevant stakeholders to create a conducive environment that supports MSME innovation, entrepreneurship, and competitiveness,” he said.
Oparanya said that the policy interventions will be implemented through the government’s Bottom-Up Economic Transformation Agenda (BETA), which has prioritized the MSME economy among the five sectors that form the core pillars of Kenya Kwanza administration.
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He revealed that if this move succeeds, it will boost the rate of employment.
“SMEs are the backbone of our economy, contributing significantly to employment generation, innovation, and GDP growth. The sector plays a catalytic role in driving inclusive and sustainable economic development in Kenya while creating positive social change. SMEs are the largest employers in Kenya, providing jobs to over 80 per cent of the working population,” he said.
He revealed that SMEs in Kenya have heavily invested in innovation which is a strategic imperative for our nation’s long-term prosperity, adding that this not only contributes to technological advancement but also fosters the development of specialized skills within the workforce as by investing in innovation, the sector will be laying the foundation for a knowledge-based economy that can compete on the global stage.
By Vostine Ratemo
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