The Ministry of Trade and Industrialization together with the National Treasury plan to launch a Small and Medium Enterprise (SME) fund by June this year.

Speaking during the review on the proposed changes to the SME’s policy by stakeholders that was last amended in 2005, Principal Secretary (PS) Francis Owino said the fund will be accessible to traders to help them tackle challenges they face when starting their businesses.

“The guidelines to support the project will be released next week and will be subjected to public participation throughout the country from Monday 27,” said Owino.

The delay in reviewing of the policy has led to the rise of many regulatory bodies that create unnecessary requirements for businesses.

SMEs constitute 98 percent of all businesses in the country and employ more than 80 percent of the working population in Kenya.