About 150 micro, small and medium enterprises (MSMEs) in Uasin Gishu County have been equipped with skills and information on accessing finance, markets and other business opportunities in a programme aimed at supporting enterprise growth.
The training was organised through a partnership between the Micro and Small Enterprises Authority (MSEA) and the Kenya Bankers Association (KBA) and was held over two days at Sirikwa Hotel in Eldoret City.
The forum brought together women and youth entrepreneurs, sector leaders and selected beneficiaries of the National Youth Opportunities Towards Advancement (NYOTA) programme.
Speaking during the training, MSEA North Rift Regional Coordinator CPA Alton Kogo said the initiative was designed to address information gaps that continue to prevent many MSMEs from accessing affordable financing and expanding their businesses.
Kogo said some entrepreneurs struggle to obtain financial support because they lack adequate information on available financial products, eligibility requirements and opportunities within the banking sector.
“There is a gap already in the market in access to information, especially on financial access, market access and financial literacy,” Kogo said.
He said the partnership with KBA would enable entrepreneurs to gain a better understanding of financial services while equipping them with knowledge required to make sound business decisions.
“Sometimes we find the MSMEs cannot reach their limits basically because of the challenge of access to finance. Through this partnership, we are trying to bridge this gap and bring this information to the MSMEs and the entire MSME ecosystem,” he said.
The training covered access to finance, marketing, budgeting and planning, record keeping, financial literacy and other aspects of business management.
Kogo said participants would also be exposed to opportunities available under government programmes, including the Kenya Jobs and Economic Transformation (KJET) project and NYOTA.
He noted that access to reliable information was critical in enabling entrepreneurs to identify suitable financial products, expand their operations and gradually move their businesses to higher levels of production.
“On behalf of our CEO, we want to say that this is a noble programme. We are keen to support it fully, provide opportunities which we have and offer our technical experience,” Kogo said.
As part of the initiative, 30 selected MSMEs will be enrolled in a mentorship programme supported by the Equity Bank Foundation. The mentorship is expected to help beneficiaries strengthen their enterprises and identify suitable financial products and markets.
Kogo said MSEA would follow up with the selected beneficiaries to ensure they obtain maximum value from the mentorship programme and take advantage of available opportunities.
He said collaboration between MSMEs and financial institutions would help create stronger linkages and improve access to affordable financing tailored to the needs of small enterprises.
“Equity Bank is really trying. They have unique products touching on MSMEs, so we see this collaboration between KBA and ourselves opening up bigger spaces for the banks around here,” he said.
Kogo added that MSEA was particularly focused on supporting young entrepreneurs, manufacturers and small-scale manufacturers through technical assistance, information and opportunities that would enable them to expand production and create employment.
The 150 participants are expected to receive certificates after completing eight training modules developed jointly by MSEA and KBA.
Kogo said the programme was part of a national initiative being rolled out across the country, with Uasin Gishu among the pilot counties selected for the first phase.
He said similar programmes would be implemented in other counties as MSEA and KBA expand the partnership.
“This is a partnership initiated from Nairobi by the authority through the CEO and the Kenya Bankers Association to be rolled over to the whole country,” he said.
The initiative comes as MSMEs continue to face challenges accessing affordable credit, reliable markets, business information and technical support despite their significant contribution to employment creation and economic development.
Kogo said continued collaboration among government agencies, financial institutions and private-sector organisations would be critical in removing barriers facing small businesses and creating a more supportive environment for enterprise development.
By Ekuwam Sylvester
