Nairobi, Kenya- October 26th 2018. The Kenya Private Sector Alliance (KEPSA) in partnership with Invest In Africa (IIA) hosted over 70 participants to a Private Sector Stakeholders – Scale Up Kenya breakfast meeting on “Sustainable Partnerships to Scaling Up SMEs”.
The aim of the forum was to engage the private sector actors towards promoting socio-economic development with an aim of achieving the following objectives:
1. Promote socio-economic impact through ring-fencing opportunities for SMEs’.
2. Bring on board strategic partners for a targeted and holistic approach towards scaling up SME’s in Kenya in addressing the needs of the private sector.
3. Call to action to private sector actors to incorporate scale-up strategies for SME’s as part of their Corporate Social Investment (CSI)
4. Sensitize private sector organizations on how they can access a large pool of pre-vetted supplier for supply chain sustainability.
5. Celebrate organizations already promoting SME’s development.
The conversations touched on Kenya's aspiration to becoming an upper middle-income economy by 2030 and the role of the private sector as a key vehicle of driving socio-economic development and growth. This is through job creation, spurring optimization of opportunities available in value chain across industries and advocating for enabling the business environment for Kenya by working together with the Government and other stakeholders.
There was a wide consensus that the key to achieving social economic development lies within how business operations should be restructured to include sustainability such as, inclusive business and employment of the most vulnerable groups and sectors, and also to ensure that foreign direct investments and trade between large and small organizations.
Businesses were urged to visit the APP platform to help them get access to a large pool of already pre-vetted suppliers.
“According to statistics, MSME’s contribute about 34% to GDP and account for over 90% of all established businesses, employing nearly 85% of Kenya’s workforce.We also hope that Kenya will improve in this year's Doing Business Index ranking from current position 80 an indication of an improved environment for business especially SMEs to thrive."
Nick Nesbitt , Chairman, KEPSA
“ We have so far recruited and validated 1,800 SMEs on the platform, posted 110 tenders from 10 buyers and supported 21,000 jobs. We are therefore calling for more support in order to achieve an even greater impact to SMEs and the economy at large. “
Wangechi Muriuki, Country Manager, IIA-Kenya