• Tuesday, 24 December 2024
Growth: Kenyan MSMEs explore new opportunities in E. Africa at Juba fair

Growth: Kenyan MSMEs explore new opportunities in E. Africa at Juba fair

Kenyan Micro, Small, and Medium Enterprises (MSMEs) are set to expand their reach within the East African Community (EAC), tapping into the region’s $305 billion GDP market.

During Kenya Day at the annual EAC MSMEs Trade Fair in Juba, South Sudan, MSMEs Cabinet Secretary Wycliffe Oparanya emphasized this as a strategic opportunity to grow Kenyan small businesses’ market share and strengthen their presence across South Sudan and other EAC member states.

Oparanya noted that the event offered 483 Kenyan MSMEs a platform to explore emerging market dynamics and build trade linkages for regional growth.

“The annual trade fair has become a vital tool for promoting intra-EAC trade and investment, enabling businesses to connect and access market information,” he said.

Kenyan MSMEs are showcasing their products and services at the 10-day forum, enhancing regional trade exchanges.

The government is also developing initiatives to increase MSMEs’ digital market awareness and sustain e-commerce locally and regionally.

“This year’s fair aligns well with Kenya’s ‘Buy Kenya, Build Kenya’ policy, capturing the aspirations of intra-EAC trade and recognizing the role of domestic production in regional development,” added Oparanya.

The fsir attracted over 1,500 exhibitors from EAC Partner States. Since its inception, the fair has provided a platform for MSMEs from the EAC’s seven partner countries to explore new markets, share innovations, and strengthen cross-border trade.

With the recent inclusion of the Democratic Republic of Congo (DRC), the EAC market now spans from the Indian Ocean to the Atlantic, positioning itself as a gateway to the African Continental Free Trade Area (AfCFTA).

The MSME sector is vital to Kenya’s economy, employing 15 million people and comprising 98 percent of businesses.

It contributes approximately 3 percent to GDP annually, with a total economic output of Sh3.3 trillion.

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