Over 130 SMEs to benefit from Sh10m credit programme

Over 130 Small and Medium Enterprises in Kisumu will benefit from a zero-interest Sh10 million credit programme.

The county government has partnered with GIZ and Stanbic Bank.

The developments will bolster value chains and job creation.

Kisumu Deputy Governor Mathews Owili said in March, the county government signed an agreement with Stanbic to establish a flexible framework to collaborate on digital knowledge and affordable financing towards the SME sector.

“Thanks to Stanbic Bank Foundation led by Pauline Mbaya for their continued support to accelerate the growth of  SMEs in Kisumu,” Owili said.

He said through the same partnership, Kisumu Business Innovation and Incubation centre has already received 20 desktop computers and an attendant to support the rollout of the digital training.

He said MSEs are key in creating jobs and it, therefore, makes sense to enhance digital literacy in the line of digitally enabled jobs.

“I call upon the 130 beneficiaries to fully apply for the project, for all possibilities to bear fruits. I hope we all appreciate that it's not every day that we we find an opportunity of this nature,” Owili said.

He said they are looking forward to strengthened partnerships based on sustainable and cost-friendly models.

Director of Trade and Enterprise Bovince Ochieng said it's a great partnership that will improve the trading space and opportunities within the county.

Ochieng said the over 100,000 SMEs are the backbone of Kisumu's economy.

“By supporting and empowering them, the effects shall be across,” he said.

The director said the traders will benefit from the easy-to-access loan and get trained on how to manage and better their business.

Edited by Kiilu Damaris