THE Micro Small and Medium-sized Entreprises (MSME), is contributing about 85 per cent of employment and 25 per cent to the Gross Domestic Product (GDP), making it the fastest growing sector in the East Africa Community (EAC), partner states.

This was said by the Chief Executive Officer (CEO), of the Confederation of Micro and Small Enterprises Organisation East Africa (CMSEOEA), Mr Richard Muteti, during today’s inaugural of regional consultative forum on MSMEs held at East African Business Council Secretariat in Arusha on Monday.

“Despite the importance of the MSMEs to the economy, there isn’t a tailor-made policy at EAC level focusing on the promotion of MSMEs,” said the East Africa Business Council Chief Executive Officer, Peter Mathuki.

Lack of standards specifications, poor production methods, poor finish, reduced lifespan, sub- standard issues hindering the export growth of the products manufactured by MSMEs in the region.

The chairman of CMSEOEA Mr Josephat Rweyemamu said, “Partnership with EABC will enhance us to speak in one voice on common issues facing business such as non-tariff barriers (NTBs) and harmonisation of standards,”

The partnership is expected to increase economic vibrancy by enhancing forward and backward linkages to boost job creation, quality of the jobs and products manufactured by MSMEs.

The EABC Director said in her remarks, “EABC will represent MSMEs issues in the high-level meeting with the EAC Heads of State and Council of Ministers” Innovations, exposure visits, capacity building, business to business linkages between micro and large industries and access to market are among the focus areas of the partnership.

The EABC is organising the East African Business and Investment Summit on 28th to 29th November this year, preceding the Summit of the EAC Heads of State. 

Source: Daily News

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