Empowering communities to create, grow and manage wealth

Abstract

Approximately 2.8 million people (9.0% of the national population) reside along Kenya's coastal areas. Most of the business owners are above the age of 30 years and only 8% of the micro and small enterprises owners in the coast region are below 30 years. Based on a study undertaken during the KCDP, there was an indication of low levels of income for majority of the businesses interviewed with most making less than 50,000 KES per month. Most of the micro-enterprises are operated solely by the owners. In the region, 85% of the micro and small entrepreneurs had an account with formal financial institutions. The main form of interaction between Medium and Small Mirco - Enterprises (MSME's) and these institutions was found to be through savings by the enterprises. Key economic activities in the six counties include tourism, mining, agriculture (food and cash crops), livestock keeping and fishing.