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Kenyan entrepreneurs urge for supportive ecosystem to spur green growth

Release Date:2024-04-03 17:00:23     Source:Xinhua

Kenyan startup founders on Tuesday called for the establishment of a supportive ecosystem to spur the growth of businesses that are key to transitioning the country from carbon-intensive to green growth.

Speaking at a virtual forum convened by Kenya Climate Innovation Center in Nairobi, the capital of Kenya, the entrepreneurs stressed that with the right policy and regulatory frameworks in place, the country could unlock green and resilient growth.

Joseck Matheri, the founder and chief executive officer of MisterBee Limited, a startup that promotes modern beekeeping, called for fiscal incentives and targeted funding to boost the growth of businesses that offer solutions to the climate crisis.

"The right policy and regulatory environment are key to accelerate growth of enterprises that are helping communities respond to climate change," Matheri said. According to Matheri, for green startups to thrive, they require supportive infrastructure for incubation and acceleration, training, mentorship, access to funding and markets.

Kenyan entrepreneurs are better placed to deploy innovations that local communities require to boost their resilience in the face of climate emergencies like droughts, floods, widespread hunger and water stress, said Curtis Musembi, an investment manager at OikoCredit, a social impact investment group.

Musembi observed that local startups have embraced environmental, social and governance ethos in their operations, to boost climate action, job creation and sustainable development.

Christine Mbaabu, the GreenBiz Program coordinator at Kenya Climate Innovation Center, stressed that small and medium-sized enterprises can play a critical role in climate response by investing in value addition, sustainable water management, forestry conservation and clean energy.

Policy reforms combined with targeted advocacy, training and financial support will enable these startups to scale up access to innovations that limit greenhouse gas emissions at household and industrial levels, Mbaabu said.

Mbaabu said the unfolding climate crisis is a wakeup call for Kenyan startups to develop products that promote resilience across key sectors like energy, agriculture, tourism and manufacturing.


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