President William Ruto has asked German business people to invest in Kenya's micro, small, and medium-sized businesses.
He claimed that Kenya stands to gain from the most seasoned, well-organized, and resourced German institutions.
President Ruto stated that the industry, which creates more than 60% of job possibilities, is the foundation of the German economy.
On Monday, he encountered Dr Markus Jerger, the head of Der Mittelstand—the German Association of Small and Medium-Sized Businesses—while he was giving a speech on Potsdamer Square in Berlin (BVMW).
Did you read this?
Jerger claims that BVMW represents the interests of more than 3.3 million distinct businesses nationwide.
According to the President's Bottom-Up Economic Reform Plan, the government is dedicated to fostering the growth of small businesses.
To help the millions of Kenyans that rely on the MSME sector for a living, we have invested more than Sh50 billion in the Hustler Fund.
We acknowledge this challenge and are working with countries and partners to achieve a better and more sustainable future for all. pic.twitter.com/3fafg4wFG2— William Samoei Ruto, PhD (@WilliamsRuto) March 27, 2023
He stated that the facility's uptake has been encouraging thus far.
Jerger stated that "for us in Kenya's value addition program," there are numerous prospects.
"To cut down on post-harvest losses, we can invest in cold storage technologies. We already practice it in Senegal," he declared.
Afterwards, the President discussed strategies for attracting more German and foreign companies to Kenya with the Federal Association for Economic Development and International Trade (BWA), which Michael Schumann chairs.
Met the Chief Executive Officer of the European Organisation for Sustainability Development (EOSD) Arshad Rab in Berlin; discussed approaches to tackling poverty, inequality, climate change, environmental degradation and peace pic.twitter.com/n6jNZlAgNq— William Samoei Ruto, PhD (@WilliamsRuto) March 27, 2023
The Association listed several possible investment areas, including the food processing industry, the internet economy, and intellectual property rights.