President calls for support for SMEs;launches new generation coins

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President Uhuru Kenyatta said new coins continue tradition of depicting an aspect that best describes our country. (PHOTO/PSCU)
President Uhuru Kenyatta said the new coins continue tradition of depicting an aspect that best describes our country. (PHOTO/PSCU)

President Uhuru Kenyatta has urged stakeholders in the financial sector to bring on board small and medium-sized enterprises (SMEs) by availing much needed affordable credit they require. Speaking at the Central Bank of Kenya, the President noted the role SMEs play in the nation’s growth and said the people in the financial sector have a responsibility not necessarily governed by law but by their own commitments and dedication to the country to ensure its prosperity. He said SMEs are the nation’s backbone and help in the creation of jobs.

The new coins
The new coins

He said the government and the Central Bank of Kenya are looking into ways of addressing issues facing SMEs, “Kenya has changed, we can’t just say that secure borrowers are large companies and government,” he said, “We must have affordable and available credit to SMEs if this country is to achieve the economic transformation some of us have set upon ourselves.”

Moreover, the President officially launched the new generation coins in line with constitutional requirements. The new coins which have wildlife motif and President Kenyatta said they have features that best describe our country. and the Head of State acknowledged the fact that the coins contain features that make it more accessible to the visually impaired persons. He said a national currency represents more than monetary value, “The motifs and design elements on currencies present a unique way of recording history, celebrating a country’s diverse culture and natural environment,” he said. The new Kshs 1 coin has the image of a giraffe, the new 5 coin has the image of a rhino, the new Kshs 10 coin the image of a lion, and the new Kshs 20 coin bears the image of an elephant.