In the financial year 2019/20 Budget Statement, the government consolidated the Uwezo Fund, Youth Enterprise Development Fund and Women Enterprise Development Fund to form Biashara Kenya Fund. Treasury CS Henry Rotich also announced the allocation of Sh1.7 billion to support the growth of SMEs in the manufacturing sector. “The Chamber is delighted to note the government took our submissions," KNCCI president Richard Ngatia said in a statement. Recently, the chamber submitted a policy, Advancement of SMEs, to the government for a review into the provision of credit and deal with impediments associated with collateral requirements. “We believe the new measures taken by the Treasury to meet the Sh3.02 trillion shall improve revenue generation,” he said.

Source: The Star June 18, 2019 09:56 UTC