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SMEs Boost Kenya GDP

SMEs Boost Kenya GDPSMEs Boost Kenya GDP

While Kenya’s small and medium enterprises continue to create jobs and boost the GDP, they face a myriad of challenges that always hamper their growth, Africa Review reported. Kenya’s 2017 overall GDP growth is projected at 6.4%. A recent national economic survey report by the Central Bank of Kenya indicates that SMEs constitute 98% of all business in Kenya, create 30% of the jobs annually as well as contribute 3% of the GDP. According to the 2014 survey, 80% of the 800,000 jobs created in the year came from the informal sector which is dominated by the SMEs.

 

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