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{
    "id": 556197,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/556197/?format=api",
    "text_counter": 245,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "These challenges have curtailed the growth of many SMEs, contributed to low export product diversification and undermined the national efforts towards graduating from commodities trade to high-end value added manufactured goods. In order to address these challenges, a variety of remedial measures are underway including supporting SMEs to acquire small industrial plants for value addition of agricultural products currently produced under the Jua kali; entrenching Buy-Kenya-Build-Kenya policy in all public procurement; introducing legislation to require, at least, 40 per cent local content in our public projects; increasing allocation to Uwezo Fund and the Youth and Women Enterprise Fund; boosting science, technology and innovation by increasing investment in research and technology; developing a framework to facilitate leasing by SME’s as an alternate financing mechanism for capital expenditures, and developing a framework to nurture and commercialise inventions, innovations and end-products at the national and county levels. Hon. Speaker, in order to empower youth and female entrepreneurs and ensure that they have access to affordable credits to start, grow and build business and enterprises, the Government will continue to increase the capitation of the Youth Enterprise Development Fund, the Women Enterprise Fund and Uwezo Fund. Therefore, in this Budget I am allocating Kshs850,000 million for the Uwezo Fund, Kshs500 million for the Women Enterprise Fund and Kshs300 million for the Youth Enterprise Development Fund. Although the law requires procuring entities to reserve at least 30 per cent of the procurement to youth, women and persons with disabilities, only about Kshs10 billion has been accessed by this group in the fiscal year 2014/2015. This is below our target and as such, all Accounting Officers are instructed to strictly adhere to the requirements of the law so as to support the entrepreneurial growth of our youths, women and persons with disabilities. In this respect, starting 1st July, 2015, I expect all Accounting Officers to submit quarterly reports to the National Treasury in regard to the 30 per cent requirement for all procurement."
}