NAIROBI (Xinhua) --
Kenya must embark on comprehensive policy
and regulatory reforms aimed at facilitating growth of
indigenous small and medium enterprises (SMEs) that
contributes an estimated 30 percent to the country’s
gross domestic product (GDP), an investor lobby said on
Nesbitt, chairman of Kenya Private Sector Alliance (KEPSA),
said that a reformed policy and regulatory environment
will accelerate growth of small and medium enterprises
that are major source of employment.
and medium sized business segment has potential for
growth that can only be sustained against a backdrop of
reforms to attract capital and skilled workforce,” said
therefore improve the ease of doing business and adopt
technological platforms to ensure small business are
integrated in the global value chains,” he added.
spoke in Nairobi during a forum to discuss strategic
partnerships that are required to scale up growth of
local small and medium sized enterprises that comprise
90 percent of Kenyan business sector.
investor lobby in partnership with Invest in Africa (IIA)
organized the forum to sensitize the small-scale
business owners on the emerging opportunities in the
global supply and demand chains.
that investor education, adoption of digital tools and
strategic linkages are key to boost access to seed
capital that small and medium sized enterprises require
Muriuki, country manager for Invest in Africa Kenyan
Chapter, said that government incentives are key to help
tackle bottlenecks hampering growth of small businesses
in Kenya like limited access to capital, markets and
“We need to
improve the regulatory regime and unlock growth of small
enterprises that are first line of employment for youth
coming out of universities and colleges,” said Muriuki.
that Kenya’s small-scale enterprises could be
instrumental in realization of President Uhuru
Kenyatta’s Big Four Agenda that focus on manufacturing,
affordable housing, food security and universal health
start-ups becoming next frontier for investments:
NAIROBI (Xinhua) --
Technology-based start-ups that have
sprung up in many parts of Africa have attracted
investments thanks to their potential for growth,
executives said on Friday.
president of African Business Angel Network (ABAN), said
the continent’s technology-driven enterprises could be
the next frontier of massive capital injection from
local and overseas fund managers.
“I see the
African technology-based entrepreneurship space as
dynamic and growing. It has become increasingly
innovative but we need the supportive ecosystem to
sustain this momentum,” Davies said.
He spoke in
Nairobi during a tour of start-ups that are transforming
agri-business, urban transport and financial services
with support from multinational technology giants.
African start-ups and investors visited Kenyan
innovation hubs that have transformed commerce, urban
mobility, health, agriculture and education.
African governments should invest in supportive
infrastructure and skills development in order to
facilitate growth of local start-ups that are providing
jobs to the youth.
investors, we are hoping governments will address
infrastructure and skills gap that often hinder growth
of start-ups despite abundance of talent and
innovations,” said Davies.
“Specifically, we would like to see access to internet
and research enhanced to enable youth come up with
successful enterprises,” he added.
reform of the regulatory environment, mentorship and
access to seed capital are key to unlocking the
potential of African technology-based enterprises.
investors are keen to venture into Kenya’s nascent
start-up scene that is on the verge of take-off thanks
to state incentives, macro-economic stability and higher
digital literacy levels among the youth.
Crawford, innovation manager for emerging markets at
Village Capital, a Nairobi-based facilitator of
investments in technology start-ups, said a robust
entrepreneur ecosystem is key to realizing success of
of incubators and accelerators in Africa has grown
exponentially, but the number of successful start-ups in
the continent has not grown at the same rate,” Crawford
“It is still
hard to raise capital and scale up a business in most
parts of the continent,” she added.