![President William Ruto. Photo/[courtesy]](https://thesharpdaily.com/wp-content/uploads/33D2BD01-BADA-4ADA-89E7-270158240D18.jpeg)
President William Ruto has expressed his support for the use of digital technology in all sectors of the economy.
While addressing a joint sitting of the National Assembly and Senate for the first time, the head of state noted that it’s important to incorporate digital technologies since they contribute to the expansion of the economy.
The President also stated that the hustler fund will capitalise on contemporary technologies for both the public and private sectors.
“We will capitalise on existing technology and innovation in the public and private sector to distribute the Hustler Fund as promised in our Plan,” he said.
How SMEs Contribute To Economic Growth
President Ruto urges financial institutions to take part in the digital economy by developing new products or modifying existing ones to advance the goal of empowering young innovators.
“I call upon financial institutions and our young people in innovation hubs to participate in the digital economy by redesigning their products to serve the goal of empowering millions armed with grand ideas and are only waiting for the fund to finance their dreams to reality,” the President said.
SMEs can continue to be inventive, flexible, and competitive by undergoing digital transformation. It may enable them to expand and compete with bigger businesses. SMEs can boost operational efficiency and drastically reduce expenses thanks to the consolidation and simplification of routine procedures and operations brought about by digital transformation.
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