This archive report was first published on 5 July 2019.
On July 5, 2019, the Kenya Association of Manufacturers (KAM) launched a Small and Medium-sized Enterprises (SME) hub to support the growth of local businesses.
The SME hub is designed to prepare, nurture, and grow SMEs in readiness for the market, with the ultimate goal of making them regional and global players.
According to KAM's chairman, Sachen Gudka, the association aims to boost SMEs to grow from local value chains into regional and global players.
Mr. Gudka also emphasized the need to formalize the largely informal sector by simplifying the registration process for small businesses.
Government is also keen to grow SMEs by removing hindrances that affect the enterprises. The Principal Secretary at the Department of Interior, Dr. Eng. Karanja Kibicho, said that government is working to establish a centralized office where businesses can access all licenses.
As part of its efforts to drive growth in the manufacturing segment, KAM recently partnered with the Capital Markets Authority to enable small manufacturers to access affordable funding through the stock market.
