The government is in the final stages of revising the National MSME policy, with the 2025 framework poised to significantly enhance credit access for MSMEs and unlock the sector's untapped economic potential.
Speaking on the policy overhaul during a stakeholder meeting held at a Mombasa hotel, Anthony Njeru, Chief Economist for MSMEs at the State Department of MSME Development, said the new strategy aims to address longstanding barriers including limited financing, market access challenges, and informal operations that have hindered the growth of micro, small, and medium enterprises in the country.
The revised policy seeks to create a more enabling environment to support this growth trajectory. "If implemented effectively, this policy has the potential to transform the MSME sector into a major driver of economic growth through enhanced job creation, increased GDP contribution, and improved export capabilities," he stated, underscoring the sector's pivotal role in the country's broader development agenda.
The policy is currently undergoing final stakeholder consultations, with the process expected to conclude by June 30th, according to Njeru. "This week, we are conducting county-level engagements to ensure that all voices are heard and adequately reflected in the final policy draft," he said.
