KIEP project set to increase productivity and innovation in the private sector

KIEP project set to increase productivity and innovation in the private sector
4th June 2019, Intercontinental Hotel, Nairobi – The Government through the Ministry of Industry and
Trade has today launched the Kenya Industry and Entreprenuership Project (KIEP). This project aims at
strengthening startups and SMEs in the Country. Initially, similar projects have been paralyzed due to lack
of innovative skills and low productivity.
The project will be funded through US$ 50 million loan from the World Bank. The Government of Kenya
will also contribute US$ 5 million to support project activities and funding to emerging innovation facilities
in the Counties. This project will benefit 33,050 individuals and 2,393 firms in Kenya. Speaking during the
launch at a hotel in Nairobi, the World Bank Country Director for Kenya, Eritrea and Uganda Mr. Fellipe
Jaramillo said that the global innovation index identifies Kenya as a large global economic forum. He
added that SMEs are key drivers of the Kenyan economy and that KIEP project aims to support them using
new approaches.
“KIEP will offer customized support to women entrepreneurs and female students which is very key for
economic growth”, he explained. He furthered that the project will create more job opportunities for youths
in the Country. The Principal Secretary for Trade and Industry Ms. Betty Maina emphasized that the project
is a dynamic and systematic initiative that is part of the Big four agenda which has the potential to triple
the Country’s economy.
“This project will fully support micro-businesses in the Country and is one of the ways in which the
government is seeking to harness enterprises especially for young people”, she reitered. She also said
that the project will connect with digital spaces to enhance innovation especially through ICT enabled
businesses.
KIEP project is in line with Kenya’s vision 2030 which seeks to transform the Country into a globally
competitive middle-income Country. It will particularly help to implement the Big Four Agenda by
increasing productivity in the agribusiness and manufacturing sectors.
To promote the private sector, the project will steer job creation, growth in the markets, wealth creation and
the Presidential Digital Talent Program that intends to enhance the next generation of ICT leadership and
digital talent to transform the nation. The project will run for a period of six years and will cut across all the
47 Counties.
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