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SMEs Boost Kenya GDP
SMEs Boost Kenya GDP

SMEs Boost Kenya GDP

SMEs 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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