Small and Medium-sized Enterprises have been challenged to ride on improved productivity so as to expand into new markets.
Speaking during a training by Kenya Institute of Business Training and the Japan International Cooperation Agency (JICA), Chief Representative of JICA Hajime Lwama called on the entrepreneurs to use the training to acquire competitive skills to use globally in order to be productive in the export market.
He noted that the training will see SMEs become more competitive and productive.
“SMEs have to appreciate the training in order to become more competitive and productive at their home base to enable them integrate into global value chains through trade and investments including linkages with foreign direct investments,” said Lwama.
The project which was started in January 25th 2021 within Nairobi Eldoret and Mombasa, will come to an end in February 28, 2025.
It enhances the ability of small enterprises to access financing by equipping them with knowledge such as that of preparing financial documents for loan screening.
It came after a survey by the Kenya National Bureau of Statistics showed 2.2 million micro small businesses shut down in the five years ending 2016.
This is equivalent of approximately 440,000 MSMEs closing annually.