By CONRAD ONYANGO Kenya’s informal traders wants the government to fast track the operationalization of the Micro and Small Enterprise Authority to enable formalization of their business and set up of a revolving fund. The authority is one of the institutions formed under the Micro and Small Enterprises Act (MSE), which came into force in December 2012, intended to make transform the informal business sector as one key economic growth drivers. Kenya National Street Vendors and Informal Traders (KENASVIT), said since establishment of the Authority in February, it is yet to be fully operational, what has delayed benefits intended for Kenya’s micro and small scale entrepreneurs. “It is now time for the Government to fund it so as to fully operationalize it” said Trustee,Simon Ole Nasieku. The core role of the authority is to provide an enabling businesses environment, facilitate formalization of MSEs, promote entrepreneurship culture, promote representative associations, and administer the MSE fund. Sangale said a fully operational authority will tame the uncertain operating environment that micro traders including street vendors have operated under for many decades. It will also help to fast tract the envisaged transformation of offering MSEs predictable leases for premises that are backed by law and can be used as collateral by banks. “We are perpetually being evicted without notice, arrested arbitrarily and lately a shoot to kill order has been issued against the hawkers. This needs to change and that’s why the authority must be empowered as soon as possible,” he said in an interview in Nairobi. Industrialisation and Enterprise Development Cabinet Secretary Adan Mohammed said earlier that the authority must provide leadership for clear coordination in the sector through the authority. The authority is expected to work closely with more than 1,200 MSE associations to facilitate implementation of the new law that also sets up a registrar of MSEs. Reorganization of the sector comes at a time when many Kenyans have chosen to set up enterprises instead of seeking employment or juggling both to meet the demand for goods and services driven by an expanding middle class. The sector is the largest employer in Kenya, according to successive economic surveys, accounting for more than 80 per cent of new jobs every year. However it remains unregulated without a voice on issues that affect it, making it one of the more chaotic sectors.
TRADERS PUSHES GOVERNMENT TO FORMALISE BUSINESSES
TRADERS PUSHES GOVERNMENT TO FORMALISE BUSINESSES Reviewed by Smart Investor on . By CONRAD ONYANGO Kenya’s informal traders wants the government to fast track the operationalization of the Micro and Small Enterprise Authority to enable forma By CONRAD ONYANGO Kenya’s informal traders wants the government to fast track the operationalization of the Micro and Small Enterprise Authority to enable forma Rating: