Kenya has established a special tribunal to help entrepreneurs in small and medium-sized businesses (SMEs) to solve their disputes. The Micro and Small Enterprises Authority (MSEA) committee will solve all conflicting issues arising from the breach of contracts, property disputes or foiled transactions.
“We are in the process of establishing a special tribunal. The tribunal will handle all disputes within the MSE sector.
“This will be one step forward towards removing any blocks that drag behind developments towards making this sector a wealthy and lucrative venture,” he added.
To solve the problem, he said the authority will be creating a Communication Strategic Plan aimed at prevailing upon the county leadership to recognize the contribution of the MSE sector in their economies and hence create conducive environment for their investments.“Our plea will be that they promote a good working environment for the SMEs in the country. One way will be establishing permanent structures for them in strategic areas where they are able attract customers,” noted Mwangi.
The SMEs sector creates over 80 percent of the total new jobs created annually in the East African state and there was need to boost its development to attract more local and international investors.
Regarding production of high quality and marketable products in the East African Community’s trading bloc as well as international market, Mwangi said the authority will support initiatives intended at promoting value addition across the country.
“We are looking forward to identifying the various value addition projects in all parts across the 47 counties. Apart from creating jobs which will be reducing level of unemployment, we will be boosting the level of productivity in the sector. Eventually make it one of the most lucrative ventures in the country,” said Mwangi.
The SME sector forms part of the Economic Pillar in Kenya’s Vision 2030, which foresees the creation of a sustainable middle- level Kenyan economy by the year 2030.
According to the Economic Survey , the sector employs over 600,000 people annually.
“The MSE sector is extremely crucial in the development of every country’s economy across the globe. Importantly, in Kenya it contributes above 88 percent of all the new employment opportunities created annually,” said Muteti.