The government has been urged to establish a more supportive environment for small and medium-sized enterprises (SMEs) to enable them to thrive and contribute to national economic growth.
During an award ceremony organized by Starbrands, stakeholders from various sectors called for lower taxes, including a review of stamp duty charges, saying the move would ease the burden on small businesses and help expand employment opportunities for jobless Kenyans.
Kenya Seeds Company chairperson Wangui Ngirichi said a friendlier tax regime would boost local production and reduce the country’s reliance on imported food items.
She noted that recent government efforts such as subsidized fertilizer have benefitted farmers but added that further fiscal reforms would stimulate wider economic activity.
She divulged that the programme has drastically reduced maize and wheat imports in the country adding that further reforms will enhance food sustainability.
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“At Kenya Seeds Company we have managed to generate enough wheat and maize seeds for our farmers and this has resulted to increased production and a sharp decline in imports. The government should maintain these tax reliefs for the sake of our countries economy,” Ngirici said.
She further noted that infiltration of fake seeds in the Kenyan market has been dealt with thereby safeguarding farmers’ interests and ensuring that enough food is generated in the country.
Glory Outreach Assembly Bishop David Munyiri Thagana emphasized that a conducive business environment increases purchasing power, particularly for Kenyans looking to invest in the real estate sector.
He noted that despite the prevailing economic challenges, many small enterprises still have the potential to grow into major companies.
The Bishop sustained support to SMEs would strengthen multiple sectors critical to national development.
He also singled out the need to reevaluate and downscale the stamp duties charged on land transactions to enable more Kenyans to acquire land and build.
“The economic environment in the country is harsher than before. Kenyans working within and outside the country continue to complain of hard economic times. Land investment transactions have declined over the past few months,” he said.
During the event that also saw Embakasi East MP Babu Owino and PS for State Department for Investment Promotion, Ministry of Investment, Trade and Industry Abubakar Hassan awarded, several brands were recognized during the event for demonstrating excellence and positive impact in their respective industries.
By John Kamau
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