•Jua Kali fund will be administered by KNCCI with the Ministry of Housing.
• Ngatia says SMEs will produce construction materials for the Affordable Housing Programme.
Image: COURTESY
Restoring the Jua Kali Fund will among the priorities for the new Kenya National Chamber of Commerce and Industry president Richard Ngatia.
He assumes office on Saturday.
Ngatia, who takes over from Kiprono Kittony, said on Thursday that the plan is for a fund to help the jua kali sector fabricate, supply steel doors and windows for the Affordable Housing Programme. He aims for it to be established within a year.
It will be administered by the chamber with the Ministry of Housing. Affordable housing is part of the Big Four agenda.
“The chamber has the capacity to rope in more jua kali players to participate in similar programmes countrywide,” Ngatia said in a statement.
The new boss said he will try to ensure the sustainability of start-ups, more involvement in Export Promotion Zones, construction of modern markets, tax waivers for the jua kali sector and encouraging artisans to standardise products.
Ngatia, who was elected unopposed, said through the Jua Kali Fund fund, SMEs will access loans at affordable interest rates.
Rules will govern the lending process to ensure the fund's sustainability.
Ngatia has committed to the chamber organising trade fairs and joint marketing campaigns for its members.
“This will give members an opportunity to learn, promote and market their goods and services through regular trade delegations and buyer-seller missions,” the president said.
He said he will aim to improve the security of the member businesses through a partnership with the police.
The bank will host targeted information on business and investment opportunities.
Ngatia said he hopes to increase direct membership from less than 20,000 to about 200,000 in his first term.
“The chamber will establish an SME Industrial Park and common facility on the 25 acres the chamber owns in Thika,” he said.
According to Ngatia, an SME Chamber Academy that will generate money through short business and technical courses.
Ngatia faces many problems in selling Kenya to international investors despite the country’s improved ease-of-doing business ranking.
In the World Bank’s Ease of Doing Business report 2018, Kenya moved up 19 places to 61 of 190 economies.