SME survival and recovery amid the third wave of the pandemic. – CEO's interview on Metropol Tv
The Covid-19 pandemic has not only caused a public health crisis but also severely affected the global economy causing supply chain disruptions, loss of businesses and unemployment. In Kenya, the over 15M Kenyans that benefit directly from the MSE sector are facing dwindling incomes and imminent closure due to the disease mitigation measures that have been implemented to curb the spread of the virus.
Speaking during an interview at Metropol Tv, MSEA CEO Mr. Henry Rithaa urged MSEs to reorganize and remodel their businesses to remain afloat and safe.
‘’MSEs are at the centre of Kenya’s economic recovery and that is why the Government has partnered with private financial institutions to restructure loans in favour of small businesses to preserve their cash flows. We are calling on MSEs to register their enterprises so that they can access these facilities, procurement opportunities and other Government interventions aimed at creating resilience in this difficult time,’’ said Mr Rithaa.
MSEA is partnering with several banks and development partners to develop unlock challenges in capacity development, affordable financing and market linkages at a time when it is taking longer to produce, reach the market and customers. “MSEs need to develop creativity in business and flexibility in operating structure for survival and that is what we want to inculcate through these programs,’’ said Mr. Rithaa.