President William Ruto has urged German businessmen to consider investing in Kenya’s micro, small, and medium-sized enterprises (MSMEs), citing the country’s potential to benefit from the world’s most experienced, organized, and resourced German establishments.
Speaking in Berlin during his meeting with Dr. Markus Jerger, the Chairman of Der Mittelstand-German Association of Small and Medium-Sized Businesses, President Ruto emphasized the MSME sector’s importance in generating employment opportunities, accounting for more than 60% of the German economy.
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President Ruto noted that the Kenyan government, through its Bottom-Up Economic Transformation Agenda, is committed to supporting small businesses, citing the Sh50 Billion Hustler Fund’s provision of affordable credit to millions of Kenyans who depend on the MSME sector for a living.
President Ruto also met with the Federal Association for Economic Development and Foreign Trade, where they agreed on approaches to attracting more German and international businesses to Kenya, focusing on potential areas such as food processing, the digital economy, and intellectual property rights.