Nationwide Programme Launched to Elevate SMEs with Training and Financial Access

Nairobi – A transformative programme aimed at elevating over 1500 Small and Medium Enterprises (SMEs) across Kenya was officially launched, promising to enhance their financial literacy, market connectivity, and business networking opportunities. The Inua Biashara programme is a collaborative effort that pools resources and expertise from financial entities, media organizations, the National Chamber of Commerce and Industry, and educational institutions like Zetech University to tackle the critical challenges impeding SME growth.

According to Kenya News Agency, the initiative is designed to bolster SMEs, recognized as vital components of the nation’s Bottom-up Economic Transformation Agenda. During the programme’s inauguration, Prof. Munene explained that participating SMEs would engage in a pitching process, with the most promising enterprises gaining access to a suite of support services. These services include assistance in obtaining financing, establishing market linkages, expanding business networks, and navigating government and investor interactions, along with aid in sourcing essential raw materials.

The event highlighted the broader context within which African MSMEs operate, acknowledging their critical role in the continent’s economy while also identifying the myriad challenges they face, from infrastructural deficits and technological gaps to regulatory hurdles and financial accessibility issues.

Juliet Kimemia, the sector Lead for Trade and Investment at the Kenya National Chamber of Commerce and Industry (KNCCI), announced that the programme would extend over four years, progressively incorporating more SMEs from various counties. She emphasized the potential benefits for young entrepreneurs, urging them to leverage digital tools and the increasing reach of ICT for business innovation and expansion.

Echoing Kimemia’s encouragement, Grace Imeeinza, representing the Homeboys Group, specifically addressed the youth, encouraging them to seize such opportunities for the substantial networking and linkage advantages they offer, which are often scarce yet crucial for young entrepreneurs in the SME sector.

The Inua Biashara programme thus stands as a significant initiative, aimed at nurturing and propelling SMEs forward, equipping them with the necessary tools and opportunities to thrive in a challenging economic landscape.