State Department For MSME

Media Coverage for operationalization of MSEA cold storage and processing facilities through broad-based private sector partnership. businessnow.co.ke/cold-storage-f… #EmpoweringMSEs @DrOparanya @HonSusanMangen1 @Cooperatives_KE @MSMEs_KE @JamesMureu @HRithaa

I participated in a high-level stakeholder engagement forum on implementation of the Kenya Credit Guarantee Scheme (KCGS). The event brought together key stakeholders from the government, financial institutions, MSME sector representatives, and development partners to assess the scheme’s progress and explore strategies on Rural Kenya Financial Inclusion Facility (RK-FINFA). The Kenya Credit Guarantee Scheme (KCGS) was established to address the persistent challenge of limited access to affordable credit for MSMEs, a sector that forms the backbone of the Kenyan economy. So far, the scheme has disbursed 6.34 billion to 4147 MSMEs as of September 2024. To enhance access to credit by enterprises in the rural Agribusiness sector, the government is rolling the Rural Kenya Financial Inclusion facility that will enhance financial inclusion for small businesses in rural areas. By providing partial guarantees to financial institutions, the scheme aims to de-risk lending to small enterprises, thereby fostering economic growth and job creation. In my remarks, I highlighted the importance the scheme has in empowering MSMEs and driving economic resilience. “The Kenya Credit Guarantee Scheme is instrumental in unlocking access to credit for countless small businesses that would otherwise struggle to secure financing. As we review its implementation, our focus is on identifying ways to make it even more impactful to our MSMEs,” she stated. Also, emphasized the government’s commitment to addressing financial mechanisms for MSMEs. “We are keen on working with financial institutions and other partners to simplify processes, increase awareness, and ensure that the scheme reaches every corner of the country. MSMEs are at the heart of Kenya’s development agenda, and their success is our success,” she added. Key recommendations from the forum included enhancing capacity-building initiatives for MSMEs to improve their financial literacy, simplifying the application process for credit, and increasing the budget allocation for the scheme to reach more businesses. Financial institutions were also urged to offer tailored products that meet the unique needs of different categories of MSMEs. As the Kenya Credit Guarantee Scheme continues to evolve, it is expected to play a pivotal role in driving economic growth, fostering entrepreneurship, and creating sustainable jobs in the country.

The data from the survey will measure the contribution of the MSME sector and its subcomponents to GDP, its contribution to employment, and the size and magnitude of MSME both in the formal and informal sector,& will target all non primary activities and Agribusiness.

The 2024 MSMEs survey follows previous survey that was conducted lastly 2016 and is set to capture the evolving nature and variety of #MSME sector by enterprises activity, geography, gender distribution and skills with the sector.

Today, the MSME Development Ps engaged a technical team from The Kenya National Bureau of Statistics (KNBS) led by principal Secretary for Economic Planning Hon. James Muhati for a consultative meeting on the implementation of 2024 MSME survey. @KNBStats @KeTreasury @JBMuhati

The State department for MSME commits to work closely with the church across the country and heighten the war against poverty among Kenyans in the pursuit of the Bottom Economic Transformation Agenda(BETA). #BETA: Strengthening collaborations

The Catholic Church has a well knit grassroot structures which we look forward to leverage on to get to the bottom of the economic pyramid and uplift the people incomes.

Today I was privileged to host His Lordship Rt. Rev. James Maria Wainaina of the Catholic Diocese of Murang’a and his entourage to discuss areas of partnerships towards promoting socio- economic empowerment of the faithfuls of Murang’a Diocese.

We commend the efforts that the diocese is doing in enhancing the livelihood of the people through initiatives such as ‘Tezor’ an economic empowerment programme offering affordable credit lines to self help groups within Murang’a and Kirinyaga counties.

PS @HonSusanMangen1 hosted the Deputy Government Spokesperson Gabriel Muthuma to discuss ways of fostering collaboration to empower entrepreneurs, support small businesses, and ensure access to opportunities that drive economic resilience and strengthen MSMEs in Kenya.

The government has started to give bridge loans to borrowers with strong credit scores, enabling them to transition from small personal loans to larger business -oriented financing. @HonSusanMangen1 @hustlerfund_KE

Understand your Hustler Fund Credit Score

Happy Jamhuri Day, fellow Kenyans! 🇰🇪 Today, we celebrate our freedom, resilience, and the remarkable journey of our nation. Let us continue building a brighter future through unity, cooperation, and empowering our people. Together, we thrive! #JamhuriDay2024 #Kenya@61 #MSMEsForKenya"

Excited to join the Western Region Coffee Farming & Agronomy Sensitization event at Kongoni Catholic Church, Likuyani, this morning. Our focus is on empowering and equipping coffee farmers through the Cooperatives with the tools and knowledge to boost production and sustainability.

In My Gov publication today. @MSEA_Kenya

@DrOparanya @CSBeatriceMoe The member states have an opportunity to showcase their competitive value chains and innovations in Technology, agriculture and manufacturing , domesticating common market protocols while deepening the regional integration.

This year’s event is themed around ‘Promotion of unique innovations and skills development among MSMEs’ and Kenya has over 400 MSMEs exhibitors participating in the event. The Kenyan delegation led @DrOparanya alongside his counterpart for EAC affairs Hon. @CSBeatriceMoe.

The 24th East Africa MSMEs Edition kicked off yesterday in Juba South Sudan. The Second Vice-President of the Republic of South Sudan Dr. James Wanni Igga who is the VP in charge of Economic Clusters graced the opening ceremony.