According to Kenyan Wallstreet, the Kenya Association of Manufacturers (KAM) has established a hub for Small and Medium-sized Enterprises (SMEs).
The hub is intended to nurture, prepare, and grow Small and Medium-sized Enterprises (SMEs), in order to get them ready for the market.
Small and Medium-sized Enterprises (SMEs) play a very important role in the Kenyan economy as they provide jobs for a lot of individuals in the East African nation, and also contributing to its national income through taxes.
Sadly even with their huge impact, the Small and Medium-sized Enterprises (SMEs), are still faced with challenges such as lengthy registration procedures, unfriendly policies, not so sturdy governance structures, and lack of funds, regularly.
The Kenya Association of Manufacturers (KAM), is very focused on pushing for the promotion of growth among local businesses, through the creation of a competitive, sustainable, and vibrant sector for Small and Medium-sized Enterprises (SMEs).
At the hub, incubation services, acceleration assistance, as well as scale-up services, will be provided for Small and Medium-sized Companies in Kenya and neighbouring nations also.
Chairman of The Kenya Association of Manufacturers (KAM); Sachen Gudka said, “We aim to boost SMEs to grow from local value chains into regional and global players.”
The chairman; Sachen Gudka, also emphasized the need to formalize the largely informal sector by simplifying the registration process for Small and Medium-sized Enterprises (SMEs).
The Kenyan Government, is also looking to grow Small and Medium-sized Enterprises (SMEs), by removing hindrances that affect the enterprises.
The Principal Secretary at the Department of Interior Dr. Eng. Karanja Kibicho made it known that the government is working to establish a centralized office where businesses can gain access to all licenses.
The Kenya Association of Manufacturers (KAM) recently partnered with the Capital Markets Authority, as well.
The move was in order to help relatively small manufacturers, gain access affordable funding through the stock market, thus further driving the growth in the manufacturing segment which is also one of the government’s Big four agenda projects.
