Public Private Partnership is the best strategy to revive the Country’s ailing economy, Kenya’s president of the Kenya National Chamber of Commerce and Industry has reaffirmed.
The National Chamber of Commerce President Richard Ngati while meeting Siaya Deputy Governor Dr. James Okumbe, Busia Deputy Governor Moses Mulomi and other Entrepreneurship stakeholders in Busia County said Kenya’s ailing economy due to Covid pandemic can only thrive if partnership exists between private sectors and both National and County Governments.
The President said the chamber of commerce has set aside some KSh. 500 million meant to support Small Medium Enterprises and would be given to traders at zero interests to enable those who suffered economic meltdown due to the virus access opportunities to boost their businesses.
“I want Nyanza and Western Small Medium Entreprises (SMEs) to apply for the grants so as to revive their income generating initiatives,” said the President adding that other SMEs were competing for the funds and yet Nyanza were slow in applying.
Dr. Okumbe, on his part, hailed the National Chamber of Commerce for initiating such funds to revive sectors that drive the region’s economy adding that partnership was the best approach to the revival of economic sectors.
He added that the County Government of Siaya recently inked a deal with Siaya branch Chamber of Commerce to produce a newsletter that will provide the Entrepreneurs in Siaya space for posting adverts for their products and the proceeds realised after the sale of the newsletter would help to produce more and supply such to clients.
“We have a news magazine that we are jointly producing with Chamber of Commerce Siaya Branch that enables our business community a space to market their products inform of the adverts,” said Dr. Okumbe.
The Deputy Governor who was accompanied by Chamber of Commerce Siaya Chapter Chairperson Mrs. Rose Amuga and her Deputy Mr. Enos Ruongo, revealed that the County will start giving SMEs funds to support their business once the Siaya assembly has debated and approved the Cooperative Development Fund bill.
The Enterprise Department has Cooperative Development Funds that would benefit traders but cannot be spent yet until assembly approves the Cooperative Development Bill,” said Dr. Okumbe.
Busia Enterprise Development Executive Judith Maketso noted that funds for boosting SMEs are already available in Busia County but the County Government is still putting up board to run it.