About 12 ministries and departments such as Labour, Local Government, Industrialisation and Trade, are yet to agree on who should originate the Bill.
An estimated eight million Kenyans are employed in the informal sector, which the Bill is meant to regulate.
The more than eight-year dispute surrounding the Micro and Small Enterprise Bill, took a new twist recently when the Prime Minister’s office directed that the matter be handled by Ministry of Trade instead of Labour.
The Bill, meant to regulate Kenya’s more than 1.6 million registered micro and small enterprises, provides for establishment of a credit rating bureau for the sector to help it get access to credit from banks.
The World Bank pledged a Sh4.6 billion loan to the government for youth projects while in this year’s Budget, Treasury allocated Sh3.8 billion to be advanced through financial institutions, as a revolving fund targeting an estimated 8.3 million youth eying the informal sector.
[sws_blockquote_endquote align=”left” quotestyle=”style02″]Access to credit has been a hindrance in the development of the micro and small enterprise sector “because most financial institutions view them as unstable and often demand collateral before advancing credit”.[/sws_blockquote_endquote]
When enacted, the bill will legalise street vending and offer important legal protection to the millions of informal traders in the country.
Source : all Africa.com
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