World Bank sets Aside Sh5 Billion to Boost SMEs in Kenya
The local startups, Small Micro enterprises (SMEs) Corporate and student in the country are set to benefit significantly from the new project by the government dubbed Kenya Industry and Entrepreneurship Project (KIEP).
SME’s in the country will be able to access funds, production, and innovation is set to be greatly boosted. This is after the World Bank and the Ministry of Trade and Industrialization partnered to set aside Sh5 billion kitty purposely to fund them.
According to the World Bank Country Director, Felipe Jaramillo, the funds will be able to help in stabilizing the small enterprises, accelerators and boot camps in a bid to establish strong linkages between startups and local and international industries.
On the other side, Betty Maina, Principal Secretary of Industrialization, Ministry of Trade, Industry and Cooperatives said that they expect SMEs in the country to be innovative as the kitty is purposely set aside to assist them on achieving their goals.