The Chamber President Mr. Richard Ngatia, led a section of KNCCI board delegation to pay a courtesy call to the Cabinet Secretary treasury to discuss various issues as a build to the previous meeting that was held in January, 2020. During the meeting the Chamber President briefed the CS on the current Chamber activities that the Chamber is undertaking to support enterprises during this COVID-19 period.
He highlighted a number of activities that we are undertaking such as; Training, hosting of virtual webinars on different topical areas, our engagement with Counties on enterprise survival mechanism and supply programs on essential services.
He went ahead and informed the meeting of our strategic partners with other stakeholders and financial institutions on our proposed partnership to cushion SMEs on cash flow issues and financial inclusion through trainings and skills development targeting 3million enterprises.
The Cabinet Secretary thanked the team for the courtesy call and the contribution of the Private sector to the national economy. He noted the role of Chamber in policy advocacy, enterprise development, attraction of investments and FDIs and the role of Chambers in the Counties.
He informed the team that to support COVID-19 recovery process through the budget allocation, there are various proposals to cushion SMEs through the SME credit guarantee scheme that will be used to widen access to credit. On the same note, treasury is keen to engage key stakeholders to proposals on how to improve the same scheme. In the meantime, he is engaging other stakeholders to buy in the scheme before the launch in July 2020.
Moving forward, he suggested that Chamber will be invited to have discussions on the proposed credit guarantee scheme. He also informed the team that the Treasury has introduced a micro pension scheme that will want to support small businesses on future savings and program is still under review.
He advised Chamber to be proactive on policy programs, engage ministry of Trade and Industry with key proposals that will support SMEs intervention with the possibility of Government support.
The CS concluded by saying that he is looking forward to working with Chamber on numerous program that will contribute to the national economy.
Accompanying the CP were, Chamber 2nd Vice President Fatma Elmaawy, Company Secretary Mr. Kihara Njuguna, Director Omar Sadiq, Elisha Godana, Hassan Wario, Chamber Chief Operating Officer Mr. Patrick Nyangweso and Onesmus Masinde.