Cooperative, MSMEs and Development Cabinet Secretary Hon. Wycliffe Oparanya during the launching of national Organizing Committee for the upcoming 24 East Africa Community (EAC) MSMEs trade fair
Nairobi, Kenya Oct 7 – Cabinet Secretary for the Ministry of Cooperatives and MSMEs Development, Wycliffe Ambetsa Oparanya announced the launch of the National Organizing Committee for the upcoming 24th East African Community (EAC) MSME Trade Fair, scheduled to take place in Juba, South Sudan, from October 26 to November 5, 2024.
The annual trade fair, held on a rotational basis among EAC partner states, aims to unite Micro, Small, and Medium Enterprises (MSMEs) from the region, providing them with opportunities to network, exchange ideas, and access new markets. This year, the fair is expected to feature over 1,500 participating MSMEs, with more than 300 from Kenya alone.
Highlighting the significance of the event, Oparanya noted that the EAC’s combined market of approximately 300 million people and a GDP of about USD 312 billion provides immense potential for increasing intra-regional trade. He emphasized that the implementation of the African Continental Free Trade Area will further enhance competitiveness among MSMEs by facilitating large-scale production, continental market access, and improved financing options.
Oparanya pointed out that South Sudan’s manufacturing sector remains largely untapped, creating significant opportunities for Kenyan MSMEs to fill market gaps, particularly in sectors such as food, machinery, building materials, and pharmaceuticals. He underscored Kenya’s logistical advantages as a neighboring country, positioning it as a key supplier for South Sudan’s needs.
The theme for this year’s trade fair, “Promotion of Unique Innovations and Skills Development amongst EAC MSMEs,” reflects the EAC region’s commitment to fostering innovation and bridging the skills gap among its MSMEs. This aligns with the East African Industrialization Strategy, which underscores the importance of technological innovation and industrial transformation for enhancing competitiveness.
Oparanya encouraged Kenyan entrepreneurs to leverage this platform to showcase their innovative products and services, foster new business relationships, and gain insights into emerging market dynamics. He stressed the importance of high-quality representation to enhance the image of Kenya and its MSMEs.
In support of this initiative, Principal Secretary for MSMEs Susan Mang’eni urged participants to focus on value chain development as Kenya prepares to send over 300 MSMEs to the trade fair. James Mureu, Chairperson of MSMEs, highlighted the financial challenges faced by these enterprises and called for improved security measures along borders to facilitate smoother trading.
The National Organizing Committee, led by the Micro and Small Enterprises Authority (MSEA), has been tasked with ensuring a successful event that effectively showcases the region’s MSME capabilities. Oparanya concluded by urging the committee to carefully vet the products presented to maintain the integrity and reputation of Kenyan brands.
As the countdown to the 24th EAC MSME Trade Fair begins, anticipation grows for the potential business opportunities and regional integration advancements that this event promises to deliver.