Stakeholders in the Micro, Small and Medium Enterprises (MSMEs) and industry have called on the Governments and other development partners to invest more in the business sector in order to unlock the next phase of business growth in Kenya.
Speaking during the launch of the inaugural three-day Business Ecosystems Summit (BES) 2025 in Kisumu on Wednesday, the MSME representatives, corporates, and sector associations also urged investors and development partners to scale up support and deploy capital that matches the ambition and economic contribution of Kenya’s 7.4 million MSMEs.
The Summit, organized by The IMC People in partnership with the Lake Region Economic Bloc (LREB) and the Kisumu County Government, Kenya National Chamber of Commerce and Industry (KNCCI) Kisumu Chapter, Export Processing Zones Authority (EPZA ) among other partners showcased the region’s readiness to support enterprise development and attract investment across multiple sectors
“The national and the county Governments need to also work hand in hand with other stakeholders in order to grow the MSME sector, which contributes a sizable chunk of the country`s Gross Domestic Product (GDP),” they stated.
The Chief Executive Officer (CEO) of The IMC People, the convener of the Summit, Jeanette Oromo, on her part challenged the business community to translate the commitments made at the Summit into concrete action.
“The momentum we are witnessing at the 2025 Business Ecosystems Summit must translate into tangible investments and partnerships. It is time to move beyond rhetoric and actively deploy capital into MSMEs, she said, adding that the biggest challenges facing the enterprises is lack or limited access to financing and capital, “yet they remain the backbone of our economy.”
“Our commitment moving forward is to create more of these platforms throughout the year to grow the impact of the Summit. We must build permanent bridges between MSMEs and the resources they need. No entrepreneur should struggle in isolation when solutions exist within reach,” added Oromo.
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A report released by the Ministry of Cooperatives and MSMEs Development shows that MSMEs power over 80 per cent of Kenya’s workforce and contribute nearly 40 per cent of the country’s GDP yet many still face challenges accessing affordable credit.
They employ approximately 15 million people in Kenya, which is about 85 per cent of the non-farm workforce. According to the 2016 MSME Survey, there were over 7.4 million MSMEs in the country, with the unlicensed segment contributing more than half of the total employment.
A significant portion of this employment comes from unlicensed businesses, which are estimated to account for 57.8 per cent of MSME jobs.
Kisumu Governor, Prof. Peter Anyang’ Nyong’o and Chair of the LREB, highlighted the county’s business readiness citing the return of major business conferences as evidence.
“Our strategic location on the shores of Lake Victoria and midway across the region, positions us as East Africa’s natural commercial gateway. We sit at the intersection where opportunity meets ambition, and where strategic vision becomes economic reality,” he said.
The governor said these achievements affirm the county`s capacity, infrastructure, and dedication to convening impactful global engagements, alongside providing investments opportunities for potential partners.
“As we inaugurate the 2025 Business Ecosystems Summit, let us reaffirm our collective responsibility to shape Kenya’s economic future and contribute meaningfully to Africa’s development. Partnerships will be forged, and new futures will be imagined. We are here to create ecosystems where MSMEs thrive, where youth find opportunity, and where investors discover the next frontier of growth,”
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The Ambassador of the Sultanate of Oman to Kenya Nasra Salim Mohammed Al Hashmi highlighted the critical need for collaboration between government and stakeholders saying Oman and Kenya are no strangers to each other and her country is seeing Kenya as a strategic gateway to East and Central Africa.
“Our governments are committed to building cross-regional networks that empower women-led enterprises , youth innovators and startups with global aspirations and events like these remind us that the future of trade and development is not built by government alone but by people ,ideas and relationships,” she said.
The three-day summit will feature high-level plenary sessions, sector-specific panels, investment matchmaking, and an expansive marketplace that attracted more than 10,000 visitors on its first day. The Summit is showcasing more than 300 exhibitors most of them innovative MSMEs.
With over 1,000 participants from 23 countries, including investment promotion agencies, government representatives, and private sector financiers, the summit offers immense opportunities across key sectors like agriculture, renewable energy, healthcare, technology, and manufacturing.
By Fredrick Odiero
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