Kenya sets up centre to spur SME growth
The government has established eight Constituency Industrial Development Centers (CIDCs) to as an impetus to boost the economy.
The centre, stationed in Kakamega County, will see Small Micro Enterprises (SMEs) bosted across the country. They have been set up in Ikolomani, Lurambi, Malaba, Lugari, Khwisero, Mumias, Matungu and Butere.
Worth over Ksh.11 million, they (centres) will enable traders to access utilities such as electricity, water and industrial shades by those in the Jua Kali sector and manufacturing.
“Each industrial development center is equipped with equipment depending on the raw materials available in the area of operation,” said Kimani Kiiru who represented Trade and Enterprise development principal secretary Ambassador Johnson Weru.
According to Kiiru, the Ikolomani CDIC will support trade associations like Malinya carpenters’ association, mechanics, welders’ association, traders’ association and hairdressers’ association.
“These associations are there to support the small business persons in the constituency. They are provided with the infrastructure where they can run their business, capacity building is also offered to them where they are trained of the most recent technologies so that they can compete with their peers across the region,” said Kiiru.
Micro and Small Enterprises Authority (MSEA) officer Edward Karani said the government has also set aside Ksh.123 million the Kenya Youth and Opportunity Programme (KYPOP) to benefit over 396 youths in the country.
SMEs employ more than 80 percent of the working population in Kenya and play a central role in its economic and growth strategies.
Kenya’s Micro, Small and Medium Enterprises (MSMEs) contribute approximately 40 percent of the Gross Domestic Product (GDP) with the majority falling in the informal sector. While there are about 7.41 million MSMEs in Kenya, only 1.56 million are licensed whereas 5.85 million are unlicensed.