KNCCI seeks government stimulus for SMEs – KBC

The Kenya National Chamber of Commerce and Industry is seeking a stimulus for small businesses as a result of the Coronavirus epidemic. 

Chamber President Richard Ngatia says the lobby has opened talks with the government and other private sector lobby groups on creation of a kitty from which will advance start-ups’ soft loans to cushion them from shocks of the Coronavirus pandemic.

Developed nations have set up funds to support businesses that have been adversely affected by the corona virus pandemic. 

It is with this view that the Kenya National Chamber of Commerce and Industry is calling for establishment of a consolidated fund by the private sector and the government that will assist small businesses access cheap capital to stabilize their businesses. 

The chamber says the proposed kitty should also offer small businesses daily stipends to buy essentials.

Businesses are calling on east African governments to open borders to locally made goods as a mitigation on the shutting down of international markets.

They also want the government to ease import restrictions on pharmaceutical products for Kenyans to access cheaper medical supplies.