What a day for Kenya. A peaceful inauguration of The 5th President of Kenya, a successful handover and an inspiring list of agendas from His Excellency President Ruto. Below are a list of summarized take away from his speech;
- Form “Ministry of Cooperatives & SME development” to ensure small businesses receive support.
- Our expectations: Kenyan business owners and ecosystem players need to have a strong government championing for the ease of running business in the country. This ranges from benchmarking from other countries both on the continent and without. A tech visa to make it easier for investors and tech-preneurs to run businesses in Kenya. Enactment and signing of the Startup bill. Liaise with banks to give MSMEs and start-ups, with solid business plans, special loan rates.
- Kenya Revenue Authority to offer more efficient, user friendly and responsive services, both online and virtually
- Our expectations: Local businesses face a lot of challenges with KRA based on unclear KRA expectations based on the business registration vehicles. Will KRA liaise with Startup enablers to educate business owners and the general public on different registration processes, timelines and financial obligations in their eyes? Can they have an SME hotline dedicated to assist small MSMEs owners? This is an opportunity for them to be partners of the ecosystem.
- Sakaja’s promise to create a ‘one-license- package for business owners in Nairobi.
- Our expectations: When can this start? As our community grow’s, there is no denying that a government plays a key role in supporting or destroying the chances of businesses growing. We pray that the new government creates a conducive environment for growth.
What would you like to see change or improve moving forward? Is there something you are expecting as well? Share your thoughts and engage with us in the comment section.
