Small and Medium Enterprises are struggling to stay afloat and risk running out of business following delayed payment by public and private institutions running into hundreds of billions of shillings. Yesterday, KNCCI Chair Kiprono Kitonny told the Star that national government, counties and large corporate players owe SMEs in excess of Sh310 billion, with government leading at close to Sh250 billion (80 per cent). "A study by the chamber has found out an endemic cultural issue about late payments in the country especially by the national government, shrinking capital for SMEs. This must be addressed to support SME growth that contributes heavily to job and economic generation.’’ Kitonny said. He also pointed an emerging trend where sitting county governors are reneging on obligations of their predecessors, putting suppliers in a tight financial position.

Source: The Star April 13, 2019 01:52 UTC