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Browsing: msme
Stanbic Kenya Foundation (SKF) has announced a partnership agreement with the United States African Development Foundation (USADF) to provide grants to Micro, Small, and Medium Enterprises (MSMEs), cooperatives, and producer groups in Kenya.
In a statement, USADF and SKF say they will provide a combined total of US$10 million in funding towards this initiative targeting 100 percent Kenyan-owned MSMEs in Kenya.
The Fund is also expected to provide MSMEs, cooperatives and producer groups with an opportunity to gain access to affordable finance, markets and expose them to the use of digital technologies.
Applicants must be Kenyan-owned, -led, and -registered MSMEs, cooperatives and producer groups operating in Kenya in the manufacturing, agriculture and agribusiness, health, trade, or services sectors.
Head of the Stanbic Kenya Foundation, Pauline Mbayah noted that, “The Foundation’s Financial inclusion; Job creation and Enterprise development pillars aim to catalzye the Micro, Small, and Medium entrepreneurs, cooperatives and producer …
A new report has revealed that ICT and Agriculture are the leading host sectors for Micro, Small and Medium-sized Enterprises (MSMEs) in Kenya.
The 2021 MSMEs Survey Report by Kenya Bankers Association also ranks manufacturing and construction among the dominant hubs for the enterprises that collectively create an estimated 15 million employment opportunities in the economy.
The study, conducted by the KBA Centre for Research on Financial Markets and Policy in collaboration with the Japan International Cooperation Agency (JICA) in May this year, further indicates over 90 percent of the 279 MSMEs sample analyzed were registered, signaling a high level of formalization.
The Findings
Based on entrepreneur characteristics, majority of MSMEs owners are males at 77 percent, highly educated with 54.5 percent having a bachelor’s degree level of education.
In addition, close to two-thirds or 63 percent of enterprise owners had been in employment for more than six years before …