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30,000 SMEs Set To Benefit From Ksh. 5 Billion Loan


More than 30,000 Small and Medium Enterprises (SMEs) are set to benefit financially from a newly launched project by the Ministry of Trade and Industrialization.

The project dubbed Kenya Industry and Entrepreneurship Project will see more than 2000 firms financed with the Ksh.5 Billion Loan from World Bank.

Stephen Odua KIEP’s Project Coordinator says that the project’s main aim is to strengthen start-ups and SMEs in the country.

Ouda says that Initially, similar projects have been paralyzed due to lack of innovative skills and low productivity.

Speaking during the launch at a hotel in Nairobi, the World Bank Country Director for Kenya, Eritrea and Uganda Mr. Fellipe

Jaramillo said that the global innovation index identifies Kenya as a large global economic forum.

The project will run for a period of six years and will cut across all the 47 counties.