PHU at the 5th Edition MSME’S Conference and Expo 2024
By Ms. Maureen Obare
In the lively courtyard of the Kenyatta International Convention Centre (KICC), the 5th Edition MSMS’s Conference and Expo 2024 is currently underway, marking a united effort to drive sustainable economic growth for Micro, Small, and Medium Enterprises (MSMEs) through innovative green financing initiatives. With a strong emphasis on promoting environmental responsibility and financial inclusivity, this event, taking place from 20th to 22nd March 2024, is providing a pivotal platform for stakeholders to come together, discuss, and chart the path towards a more eco-friendly and resilient economy.
Speaking at the event, Cabinet Secretary (CS) for Co-operatives & Micro, Small and Medium Enterprises (MSMEs) Hon.Simon Chelugui said that the government recognized the role of SMEs and has set aside their standalone Ministry and Department, (State Department of Micro, Small, and Medium Enterprises Development). He noted that the 5th Conference theme provides a platform for participants to build networks, deliberate on issues affecting the sector, and identify options and interventions that can enhance their role in the national bottom-up economic transformation agenda.
As a dedicated stakeholder in the field of education and with a strong commitment to fostering capacity building and encouraging youth innovation, the Proposed Hekima University (PHU) recognized the incredible value of participating in the Conference and Expo. Given PHUs’ desire to offer an undergraduate degree program in Business Innovation and Social Entrepreneurship (BISE), and our current provision of short courses, in Financial Literacy and Social Entrepreneurship, our involvement in this conference was necessary. Through participation, PHU was able to identify and take advantage of valuable opportunities that will greatly contribute to the growth and sustainability of our existing programs. These opportunities encompass establishing crucial networking connections, gaining insights into challenges faced by the sector to inform the development of our curriculum, accessing avenues for research collaborations, promoting environmentally friendly initiatives, enhancing our visibility and reputation, and exploring potential sources of funding to support our trainees. By actively engaging in this conference, PHU is well-positioned to further solidify its position in providing excellent education and empowering entrepreneurs in the region.
MSMEs constitute 98 percent of all businesses in Kenya according to statistics by Co-operatives & Micro, Small, and Medium Enterprises ministry, playing a pivotal role in driving economic growth, industrialization, and employment generation. Financial institutions such as Saccos are seen as indispensable in providing essential financial services to these MSMEs as their support facilitates the production of goods, fosters innovation, and directly impacts the livelihoods of individuals at the base of the economic pyramid. With MSMEs annually creating 80 percent of new jobs and employing over 15,000,000 Kenyans, their significance cannot be overstated.
The conference was attended by Fr. Dr Odomaro Mubangizi, SJ, PHU Deputy Director and Director of Academic Affairs David Mosi, Wanjiku Ngugi, Maureen Obare and Francis Ogutu from the Directorate office. The conference and expo were jointly organized by The Nation Media Group, the Ministry of Co-operatives & Micro, Small and Medium Enterprises (MSME) Development, the Micro & Small Enterprises Authority (MSEA), the Kenya National Chamber of Commerce and Industry (KNCCI) amongst other stakeholders.
