The industrialisation ministry says the government will pump
more money in the Small Medium Enterprises (SMEs) segment to create jobs
for the youth and grow the contribution of the informal sector to the
economy.
Speaking yesterday during a visit of SMEs in
Nairobi’s Industrial area, Investment and Industry Principal Secretary
Patrick Mwangi Nduati said the government funds will be channelled to
SMEs across the country.
“The industries that we have
seen here have been incubated, assisted and supported with credit by the
Kenya Industrial Estate” said Mr Nduati.
“These
industries now needs to grow not only in the region but also in their
counties to ensure that we can achieve the job creation agenda and
growth of the GDP.”
The Kenya National Bureau of Statistics indicates that there are
more than 17 million SMEs registered in Kenya with 98 per cent of them
contributing about 25 per cent of the country’s GDP and employ up to 50
per cent of Kenya’s workforce.
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