The Kenya Association Manufacturers has signed an agreement with the Capital Markets Authority to support the manufacturing industry.
The manufacturing sector is one of the major drivers of economic growth in Kenya. The sector contributes to the national income, adds to Kenya’s exports basket, and employs many Kenyans. In 2018, the industry provided direct employment to more than 300,000 workers and many other indirect job opportunities.
Businesses in the manufacturing space often lack funds to run their activities or grow their operations. They also lack good managerial structures that ensure continuity of the business. The partnership will enable more companies to access affordable financing through Capital Markets.
Speaking during the signing of the agreement, KAM CEO Phyllis Wakiaga said, “We welcome the partnership because it will contribute to greater collaboration and coordination between KAM and CMA.”
Capital Markets Authority CEO Paul Muthaura said, “The partnership will support research and analysis, capacity building and financial inclusion for local and private companies, as well as Micros, Small and Medium Enterprises.”