Kenya Mulls MSME Market Expansion Among EAC Peers

Kenya is keen on expanding its market volumes within the East Africa region with a focus on its growth for Micro, Small, and Medium Enterprises (MSMEs).

Cooperatives and MSMEs Development Cabinet Secretary Wycliffe Oparanya who spoke during the unveiling of the National Organizing Committee for the 24th East African Community (EAC) MSME Trade Fair emphasized the trade fair’s importance in expanding market opportunities for Micro, Small, and Medium Enterprises (MSMEs) within the EAC region, which now boasts a population of approximately 300 million people and a Gross Domestic Product (GDP) of USD 312 billion.

According to Oparanya, the recent inclusion of the Democratic Republic of the Congo (DRC) and Somalia into the EAC has bolstered the potential for intra-regional trade and integration.

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“The EAC region now stretches from the Indian Ocean to the Atlantic Ocean, making it more competitive and strategically positioned to access the larger African Continental Free Trade Area (AfCFTA),” he said.

“Kenya enjoys logistical advantages as a neighboring country, and our MSMEs are well-positioned to supply a wide range of products such as food, machinery, building materials, pharmaceuticals, and consumer goods”.

He highlighted that the AfCFTA is set to enhance the competitiveness of industries and enterprises by enabling them to exploit opportunities for production at scale and access continental markets.

The trade fair slotted for October 26 through to November 5 in Juba, South Sudan will see 15000 MSMEs exhibitors from the EAC with Kenya gearing up to send 400 representatives.

The fair will offer participating MSMEs the opportunity to showcase new products, innovative services, and solutions developed to navigate the challenging economic environment.

It will also provide a platform for knowledge exchange, fostering business linkages and facilitating trade and investment opportunities across the EAC region.EAC holds its trade fairs annually on a rotational basis.