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Gov’t To Establish New MSME Fund For The Jua Kali Sector

[PHOTO/ COURTESY]

The government through the Ministry of Trade and Industrialization and the National Treasury is in the final stages of establishing a Micro Small and Medium Enterprises Fund (MSME) by June this year.

This was announced by Industrialization Principal Secretary Dr Francis Owino who said the fund will be accessible to traders operating in Biashara Centers to be set up across the country under new trade policy which awaits cabinet approval.

The fund will majorly target the informal sector (Juakali) to ensure they specialize in mass production and manufacturing of goods that will be subject to a set of standards highlighted in the new policy framework in order to become suppliers of affordable housing programme.

Read: Delta Airlines Thanks Employees With Ksh161 Billion For Good Performance

It is estimated that the sector currently accounts for more than 80 percent of all businesses in Kenya, creating around 75 percent of the jobs in Kenya.

The sector currently lacks proper regulation policies that could spur its growth.

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Written by Francis Muli

Senior reporter at Kahawa Tungu, Muli has a passion for human interest stories. Believes in unearthing societal rots that have been hidden from the public eye.
Follow me on Twitter @FmuliKE. Email francis@kahawatungu.com

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