Kenya Prepares for the 24th EAC MSME Trade Fair: Cabinet Secretary Oparanya Urges Entrepreneurs to Seize Emerging Market Opportunities
The Cabinet Secretary for the Ministry of Cooperatives and MSMEs Development, Hon. FCPA Wycliffe Ambetsa Oparanya, officially launched the National Organizing Committee for the upcoming 24th East African Community (EAC) MSME Trade Fair, set to take place in Juba, South Sudan, from October 26 to November 5, 2024.
Speaking at the event, CS Oparanya emphasized the critical role the annual trade fair plays in expanding market opportunities for Micro, Small, and Medium Enterprises (MSMEs) within the EAC. “Since its inception, the EAC MSME Trade Fair has been instrumental in bringing together businesses from across the region, providing a platform for MSMEs to access new markets, share innovations, and foster regional integration,” said Oparanya.
This year’s edition comes at a pivotal time for the region, following the inclusion of the Democratic Republic of Congo (DRC) and the Federal Republic of Somalia into the EAC. The expanded community, now with a market of approximately 300 million people and a GDP of around US$312 billion, provides fresh impetus for intra-regional trade.
**Strategic Opportunities in South Sudan**
South Sudan, the host nation for this year’s event, presents untapped market potential for Kenyan MSMEs, according to the Cabinet Secretary. “With South Sudan’s manufacturing sector still in its infancy, there is a reliance on imports, creating strategic opportunities for Kenyan businesses to meet the growing demand for essential goods and services amid the country’s ongoing reconstruction efforts,” Oparanya stated.
He also pointed out Kenya’s logistical advantage as a neighboring country, positioning it well to supply South Sudan with products ranging from food and building materials to machinery and pharmaceuticals. The trade fair will allow Kenyan entrepreneurs to explore these opportunities and forge vital business links.
**A Focus on Innovation and Skills Development**
This year’s trade fair theme, “Promotion of Unique Innovations and Skills Development Amongst EAC MSMEs,” reflects the EAC’s commitment to fostering regional economic growth through innovation. Oparanya highlighted that over 1,500 MSMEs are expected to participate, showcasing products and services that have been developed in response to economic challenges and evolving market demands.
“The trade fair will not only allow MSMEs to showcase their innovations but also to share experiences and learn from others on how they navigated current economic headwinds,” Oparanya said. He added that the fair would provide a platform for launching new technologies and products targeting local and regional markets.
**Government Commitment to Boosting Regional Trade**
Oparanya reaffirmed the Kenyan government’s commitment to supporting MSMEs and improving the country’s export competitiveness. “The government is exploring new paths to improve regional trade and enhance the competitiveness of products with high growth potential. This will require businesses to meet international quality standards and tap into higher market segments globally,” he said.
He further noted that MSMEs need to embrace digital markets and improve awareness of sanitary and phytosanitary measures to access e-commerce opportunities and achieve product certification for international trade.
In his concluding remarks, the Cabinet Secretary urged the organizing committee, led by the Micro and Small Enterprises Authority (MSEA), to ensure the trade fair reflects Kenya’s high standards. “I urge the committee to vet MSME products thoroughly to ensure Kenya’s image is well represented through high-quality products and services,” he emphasized.
The 24th EAC MSME Trade Fair is expected to facilitate robust business engagements among the partner states, driving regional integration and opening up new market frontiers for East African enterprises.
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