Kenya’s MSMEs Set to Make a Mark on EAC Industry Space

November 3, 2024

(3 Minutes Read)

With the recent entry of the Democratic Republic of Congo (DRC), the EAC market now extends from the Indian Ocean to the Atlantic, setting it up as a gateway to the African Continental Free Trade Area (AfCFTA).

Kenyan micro, small, and medium enterprises (MSMEs) are gearing up to enhance their presence within the East African Community (EAC), riding on the back of a substantial regional GDP of USD 305 billion.

During Kenya Day at the annual EAC MSMEs Trade Fair held in Juba, South Sudan, Wycliffe Oparanya, the Cabinet Secretary for MSMEs, highlighted this as a strategic moment for Kenyan small businesses to increase their market share and establish a stronger foothold across South Sudan and other EAC member nations.

Oparanya pointed out that the event provided a significant platform for 483 Kenyan MSMEs to navigate emerging market trends and foster trade connections that benefit regional development.

Throughout the 10-day event, Kenyan MSMEs are displaying a diverse range of products and services, contributing to the growth of regional trade interactions. Additionally, the government is working on initiatives aimed at enhancing MSMEs’ awareness of digital markets to support local and regional e-commerce.

The trade fair attracted more than 1,500 exhibitors from EAC partner states, having established itself as a vital venue for MSMEs from the seven-member countries to seek new market opportunities, exchange innovative ideas, and promote cross-border commerce.

The MSME sector plays a critical role in Kenya’s economy, providing employment for 15 million individuals and constituting 98 percent of the nation’s enterprises. It contributes approximately 3 percent to the GDP each year, with an overall economic output of Sh3.3 trillion.