NAIROBI, Kenya, July 21 – The authorities has known as on small and medium-sized enterprises (SMEs) to discover rising enterprise alternatives within the Horn of Africa, citing regional integration as a key driver of financial development.
Speaking throughout the Global Somali Entrepreneurial Forum in Nairobi, Principal Secretary for MSMEs Development Susan Mang’eni stated the area’s interconnected markets supply untapped potential for cross-border commerce and funding.
“There is gigantic potential in intra-African commerce that is still underutilized on account of obstacles akin to restricted commerce financing, fragmented fee techniques, and insufficient infrastructure,” stated Mang’eni.
She pointed to the African Continental Free Trade Area (AfCFTA) as a essential platform, particularly beneath its protocol supporting youth and girls in commerce, and urged monetary establishments to design tailor-made monetary devices to assist regional commerce.
The two-day discussion board, held on July 19–20, introduced collectively policymakers, entrepreneurs, and buyers from throughout the Horn of Africa to debate methods of enhancing financial cooperation.
The occasion emphasised the necessity for structured funding automobiles akin to SME funds, co-investment platforms, and innovation hubs to draw diaspora capital and drive long-term development.
Mang’eni reaffirmed the Kenyan authorities’s dedication to supporting enterprise improvement by means of ongoing reforms geared toward enhancing the enterprise surroundings, entry to finance, and regional commerce.
“The authorities is working carefully with the non-public sector to advertise innovation, create jobs, and deepen commerce integration throughout the area,” she stated.
Also current on the discussion board have been Health Cabinet Secretary Aden Duale, Kenya’s Special Envoy on Technology Amb. Philip Thigo, and Somalia’s Ambassador to Kenya, H.E. Jibril Ibrahim Abdulle.
