The Kenyan government, in liaison with Equity Bank, has committed to supporting Small and Medium-sized Enterprises (SMEs) through enhanced capacity building, improved access to financing, and expanded market opportunities.
Speaking at the second edition of the Annual SME Conference (Awards & Exhibition), Cabinet Secretary for Cooperatives and MSMEs Development, Wycliffe Oparanya, underscored the critical role SMEs play in Kenya’s economic landscape.
“SMEs make up over 90% of Kenya’s economy and employ millions. They represent the hope of our people and the resilience of our nation,” said Oparanya, assuring them of government support through ongoing programs and other upcoming financing initiatives with partners like Equity and the World Bank.
The minister acknowledged some of the challenges the subsector faces and highlighted key areas the ministry has prioritized, including reforms aimed at empowering MSMEs and SMEs. These include streamlining cooperative societies, digitizing registries and enhancing transparency and trust in the subsector. To this end the ministry has launched “MSMEs Connect” in collaboration with the Kenya Private Sector Alliance (KEPSA), bringing together over 1,000 MSMEs in a public-private platform that supports coordination, policy shaping, and resource sharing across all 47 counties.
Equity Bank Kenya Managing Director, Moses Nyabanda, reiterated the bank’s long-standing support for SMEs, stating that the institution is scaling up initiatives to help small businesses access financing and grow to access global markets.
“At Equity, we hold SMEs dear. They are vital jobs creators, especially in manufacturing. We are committed to helping them realize their potential and scale up their operations,” Nyabanda said.
The MD highlighted the establishment of the German Desk and other European/regional market desks in the works, as a move to support SMEs in accessing international markets. He emphasized the need for SMEs to formalize their operations, adopt sound governance structures, digitize their business processes, and build resilient, sustainable models.
The Director of SME & Start-Ups at KEPSA Mary Ngechu reiterated the pivotal role SMEs play in driving the economy and called for deliberate support, particularly for women-led enterprises. “We must support SME growth through strategic financing, capacity building, and digital enablement. This includes gender mainstreaming to uplift women-led businesses,” she said.
Ngechu urged SMEs to embrace digital trade, e-commerce and data-driven decision-making rather than relying on assumptions. She also emphasized the importance of leveraging market intelligence and partnerships to unlock new growth frontiers.
Equity Bank Kenya Director for SMEs, Collins Wanyonyi, reassured customers of the bank’s continued support, emphasizing its commitment to market access and ecosystem development. “Through over 20 trade missions, mainly to the DRC, we’ve seen the highest growth in trade partnerships with Kenya. We’re also empowering SMEs through value chain-focused training in webinars,” he said.
The conference held at the Kenya Institute of Curriculum Development (KICD) in Nairobi brought together key players from the private and public sectors to exchange ideas and offer practical solutions to the challenges faced by SMEs and MSMEs. Outstanding SMEs were awarded at the end of the two-day event where players also exhibited their wares.
