Micro, Small and Medium Enterprises
The MSME economy contributes 85 percent of non-farm jobs which today translates to 15 million out of 18 million workforces. Presently, it is absorbing nine out of 10 of the young people joining the workforce, 750,000 on average, while the formal wage corporate economy barely absorbs 50,000.
The government enacted a right-to-work law, making trading licenses and the provision of a trading location an entitlement to every citizen who applies.
Bureaucracy and regulatory compliance costs will be reviewed and rationalized for all business licenses, cap total licenses at 1.5 percent of turnover and enact administrative burden law.
The government commits Sh50 billion a year to provide MSMEs with 100 percent access to affordable finance through SACCOs, venture capital, equity funds, and long-term debt for start-ups and growth-oriented SMEs; will establish MSME Business Development Centre in every ward, and an industrial park and business incubation center in every TVET institution.