Capital Markets Authority(CMA) is set to hold the 4th virtual national annual Micro, Small & Medium(SMEs) workshop on 20th September 2023. According to CMA Chief Executive Officer Wyckliffe Shamiah, SMEs comprise 98% of all businesses in Kenya, the majority of them being informal. The CMA has been exploring avenues for providing affordable and sustainable solutions to the SME sector.
“The Authority has been seeking to partner with key industry stakeholders to address any challenges faced by the SME sector as it seeks to play a central role in reinvigorating capital markets while accessing capital through the capital markets avenue, “said Shamiah.
SMEs account for 24% of Kenya’s GDP, generate employment, drive innovation and improve social welfare. These enterprises also operate in virtually all sectors of the economy including manufacturing, services, and agriculture, among others.
The theme of this workshop is Leveraging Technology to Ease Barriers of Entry into The Capital Markets.
Analysts sum up issues facing SMEs as those related to funding, market competition, limited resources, and regulatory compliance. These setbacks make it difficult for these enterprises to survive in their respective markets.