NAIROBI, Kenya, Sep 20 – The government now says some 5,000 jobs have been created in the SME sector country since June 2007 as the Kenya Industrial Estate continues to play its role of supporting indigenous enterprises.
Acting Industrialisation Minister, Amason Kingi said KIE in partnership with other organisations such as the Youth and Women Funds have been instrumental in helping to alleviate poverty in the country.
“The government has put in place interventions, aimed at mainstreaming the informal sector to sustain growth by supporting local manufacturers and government procurement by providing incentives to rural investors,” he said.
Speaking as KIE received ISO certification, Kingi pledged to ensure the organisation reaches out to many more small and medium enterprises.
Also present at the launch was Assistant Minister Ndiritu Muriithi who urged the private sector to work together with the informal sector to help create more jobs.
“The modern sector is capital intensive and therefore it does not generate as many jobs as we need,” Muriithi said.
KIE Managing Director Julius Mokogi added: “The Company (KIE) has created Sh16 billion worth of wealth and has signed a memorandum of understanding with the Kenya Coconut Development Authority to help revive the industry and add to wealth creation as well as job opportunities.”
KIE was established 44 years ago to deal with indigenisation of businesses, capital formation, regional dispersion of wealth, and exploitation of local resources.
This is achieved through provision of industrial sheds, subsidised credit and improvement of entrepreneurial skills to Kenyan-owned Micro, Small and Medium Industries with special focus on rural industrial development. KIE has 37 branches country wide, and is represented in almost every county.
In the process, over Sh5 billion has been invested in the sector. Indeed, some of the prominent indigenous enterprises today enjoyed funding from KIE through loans issued to micro, small and medium enterprises.