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HomeYour CountyKerichoSME survival and recovery amid tough economic times  

SME survival and recovery amid tough economic times  

The Micro and Small Enterprises Authority (MSEA) a State Corporation under the Ministry of Industrialization, Trade and Enterprise Development, is keen promote and upgrade the standards of micro and small enterprises (MSEs) during these tough economic times as they recover from the adverse effects of Covid-19 on business.

Speaking to Kenya News Agency, the MSEA Kericho branch officer Michelle Aburili pointed out that MSEs are at the center of Kenya’s economic recovery and that is why the Authority has entered into several partnership agreements with financial institutions and development partners to collaborate on MSEs financial empowerment, advisory services capacity building and market access opportunities. 

She therefore called on business persons within Kericho to register their enterprises so as to access the financial facilities, procurement opportunities, and other Government interventions aimed at creating resilience during the harsh economic times.

“Equity bank as one of our partners has been instrumental in providing skills on financial literacy and knowledge as Stanbic Bank trained the MSEs on digital skills necessary in business and entrepreneurship in this day and age,” she said.

Aburili also reported that in Kericho County, the authority has registered nine associations with each association having about forty members adding that a database system is in the process of creation for the individual MSEs who will get registered to acquire the same legal recognition just as companies.

“So far, we have around 360 MSEs registered under associations and we are in the process of rolling out registration of individual MSEs but in the meantime, we are collecting their data and once the system goes live, we will register them and issue them with certificates which will come in handy if they want to apply for tenders,” explained Aburili

The MSEA officer also noted that the authority had continued to transform the lives of the entrepreneurs in Kericho County, especially through the establishment and operationalizing of the Constituency Industrial Development Centers (CIDC) which are six in number in various towns within the County.

According to Aburili, the construction and equipping of CIDCs is aimed at providing common user facilities for Micro and Small Enterprises (MSEs) and promoting industrial development.

“We have a CIDC in Ainamoi near the Kericho Green Stadium, Londiani CIDC which engages in milk processing, then the Chepseon Jua Kali Association uses the Worksite which is fully operational with carpenters and fabricators,” she said.

“Another worksite is in the Chemosot area occupied by the Chemosot Jua kali association. In Ngoina Road, we have another CIDC being used by a registered group of youth. We also have a CIDC in Cheptuyet and a worksite in Forte Ternan area,” she added.

Aburili was speaking as the world marked the Micro- Small, and Medium-sized Enterprises Day aimed at raising awareness of the tremendous contributions of micro-, small and medium-sized enterprises to the achievement of the United Nations Sustainable Development Goals (SDGs).

“We as the MSEA have been facilitating MSEs to access local, regional, and international markets to expose their products to market through trade expos and some of our SMEs are now exposed even to international markets,” said Aburili

Kenya Industrial Research and Development Institute Communications Officer Ms. Halima Lul Ali and the Marketing Officer Ronald Kemboi showcase their products at the Micro and Small Enterprise Business Expo at Moi gardens in Kericho Town

According to the United Nations, MSEs have to become more resilient to future shocks and efforts and stimulus packages must target those most heavily affected by disruptions to global supply chains, rising inflation, and the continuing ramifications of the Covid-19 pandemic.

Findings by the UN further indicate that MSEs account for 90% of businesses, 60 to 70% of employment, and 50% of GDP worldwide contributing to local and national economies and to sustaining livelihoods, in particular among the working poor, women, youth, and groups in vulnerable situations.

Source:KNA

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