PRESIDENT WILLIAM RUTO RECOGNIZES WORLD MSMES DAY

Kenya’s President William Ruto has reaffirmed his government’s commitment to empowering micro, small, and medium enterprises as they play a critical role in the country’s economic growth.  Speaking at the Kenyatta International Convention Centre during World MSMEs Day celebrations, President William Ruto described MSMEs as the engine of Kenya’s economy, driving innovation, creating jobs, and supporting millions of livelihoods. He emphasized that MSMEs are central to the Bottom Up Economic Transformation Agenda, identifying them as one of its five key pillars.

 He also noted that the sector generates the highest number of jobs and plays a critical role in youth and women empowerment. President William Ruto applauded the efforts of Principal Secretary Susan Mang’eni, recognizing her work in transforming the MSMEs sector. He emphasized the government’s plan to streamline trading licenses, moving towards a single permit regime in collaboration with county governments.

To further ease business operations, the government has digitized registration of MSMEs, reducing costs and bureaucratic hurdles. Additionally, modern markets equipped with cold storage and ICT hubs are being constructed with a target of two markets per constituency. The President also noted plans to work with the World Bank to identify at least 100,000 micro enterprises and providing each of the enterprises with a Ksh. 50,000 grant to scale up their businesses, to ensure growth and sustainability.