Browsing: SMEs in Kenya

• Kenya has invited German businessmen to invest in the country’s micro, small and medium-sized enterprises
• President William Ruto said the country stands to benefit from the world’s most experienced, organised and resourced German establishments
• Food processing, the digital economy, and intellectual property rights, among others, are some of the potential areas Germans want to invest in

Kenya has invited German businessmen to invest in the country’s micro, small and medium-sized enterprises.

Speaking on Monday, 27 March, 2023, Kenya’s President William Ruto said the country stands to benefit from the world’s most experienced, organised and resourced German establishments.

Dr Ruto noted that the sector is the backbone of the German economy, generating more than 60% of employment opportunities.

Bottom-Up Economic Transformation Agenda

He was speaking in Potsdamer Platz in Berlin when he met Dr Markus Jerger, the Chairman of Der Mittelstand-German Association of Small and Medium-Sized Businesses (BVMW).

According to Dr …

• Kenyan Small and Medium Enterprise (SME) Cake City has opened a new branch along Kiambu Road as part of its proactive expansion strategy
• The new outlet is located at EBC Centre within Shell Petrol Station near Evergreen Centre and now brings Cake City’s total operating outlets to nine, and it is the first store to be opened in 2023
• Cake City CEO Mohamed Zahir said the decision to expand along Kiambu Road was also supported by rapid development and expansion activities being witnessed in the area

Cake City, an award-winning small and medium enterprise in Kenya, has opened a new branch along Kiambu Road as part of its proactive expansion strategy.

The new outlet is located at EBC Centre within Shell Petrol Station near Evergreen Centre and now brings Cake City’s total operating outlets to nine, and is the first store to be opened in 2023. The company has branches …

• A finding by online marketplace Airduka has found that small-scale sellers in Kenya are optimistic that the business environment will remain stable in 2023
• The study found that 75% of small scale sellers expect the trading environment to be calm over the next twelve months now that risks associated with threats such as COVID-19 and the general elections have settled
• As per the finding, 60% of sellers said they expect their revenues to remain steady in the first half of the year, with growth expected in the second half

Small-scale sellers in Kenya are optimistic that the business environment will remain stable in 2023.

A finding by online marketplace Airduka found that 75% of small scale sellers expect the trading environment to be calm over the next twelve months now that risks associated with threats such as COVID-19 and the general elections have settled.

Airduka surveyed a section of sellers …

• Kenya’s Cake City has been named East Africa’s leading cake shop in this year’s Pacesetters Awards 
• The Pacesetters Awards is an annual industry leadership recognition programme organised by the Jubilant Stewards of Africa (JSA), a Non-Governmental Organisation
• Cake City emerged as the winner of the hotly contested Pacesetter in Cake Shop of the Year 2022, following an intensive survey conducted by JSA across East Africa 

Kenya’s Cake City has been named East Africa’s leading cake shop in this year’s Pacesetters Awards (PSA).

The Pacesetters Awards is an annual industry leadership recognition programme organised by the Jubilant Stewards of Africa (JSA), a Non-Governmental Organisation.

The awards celebrate SMEs and mid-sized companies across ten African countries, leading in innovation, quality products, and service delivery. It also recognises companies creating jobs and contributing significantly towards an economy.

Cake City emerged as the winner of the hotly contested Pacesetter in Cake Shop of the …

• Stanbic Bank Kenya and the African Guarantee Fund for Small & Medium-sized Enterprises (AGF) have signed a Loan Portfolio Guarantee Facility to increase financing for SMEs
• The Portfolio Guarantee Facility of KES 1 Billion will allow Stanbic Bank Kenya to expand their lending capacity and coverage to SMEs
• The partnership agreement between Stanbic Bank and African Guarantee Fund targets women-owned businesses, as well as those in the sustainable energy sector

Stanbic Bank Kenya and the African Guarantee Fund for Small & Medium-sized Enterprises (AGF) have signed a Loan Portfolio Guarantee Facility to increase financing for Small and Medium Enterprises (SMEs).

The Portfolio Guarantee Facility of KES 1 Billion will allow Stanbic Bank Kenya to expand their lending capacity and coverage to SMEs.

The Head of Business and Commercial Clients at Stanbic Bank Kenya, Florence Wanja, said they remain committed to solving the holistic needs of their SME client segment and …

Only 14 percent of Small and Medium Size Companies  access legal services in Kenya according to a new report by KIOI & CO Advocates.

The report which was released at the launch of the firm’s virtual legal services, indicated that over 70 percent of SMEs do not access legal services citing cost as the major factor. With over 100, 000 companies registered in Kenya every year, very few make it to their third birthday mostly due to compliance issues.

“Some of the major legal problems affecting SMEs include poorly drawn contracts or no contracts at all, little or no legal advice on agreements, bank loans as well as failure to meet compliance set by the law ,” said Angela Kioi, founder, Kioi & Co  Advocates.

According to Company Registrar there are 326 new business registrations across Kenya daily, however many SMEs cite prohibitive legal fees as a barrier to engaging …

4G Capital announced the completion of its second round of fundraising. The funding was secured by a $2 million debt from Ceniarth LLC, making the total raised to $4 million.

The company will use the investment for lending to its growing customer base of informal MSMEs across Uganda and Kenya.

Since the company was starred in 2013, 4G Capital has grown exponentially, lending over750, 000 loans valued at $90 million. In 2019, the company’s revenue increased by 97 per cent as 4G Capital supported over 60,000 MSMEs.

By the end of 2020, 4G Capital will have lent $43.6 million surpassing all expectations. Without refinancing, repayment rates remain above national averages at over 94 per cent.

Also Read: Mentors jostle for space in Kenya’s challenging SME sector

“The rapid expansion of mobile and technology-based financial services in emerging markets has the potential to provide critical capital to individuals previously excluded from …

Over seven hundred and eighty  micro, small and medium enterprises (MSMEs) in Kenya’s Lake Region are set to benefit from the new, ultra-modern Kenya Bureau of Standards (KEBS) regional headquarters in Kisumu.

The new facility not only houses the KEBS regional offices but is also equipped with four laboratories including Food and Agriculture, Microbiology, Biochemistry and Instrumentation. The laboratories will offer testing, metrology and calibration services to the Lake Region industries including fishing and fisheries, water purification and bottling, tea factories, grains and cereals, sugar, animal feeds, fertilizers and the hospitality sector.

Speaking during the official opening of the facility, KEBS Ag. Managing Director Lt. Col (Rtd). Bernard Njiraini reiterated the institution’s commitment to promoting standardization in industry and trade at the county level through investing in requisite resources and infrastructure for standards development, conformity assessment, testing and metrology.

 “The Kisumu office will ensure that the region receives adequate support …