25,000 MSMEs to Benefit From Interest Free Loans
Over 500 small and medium-sized enterprises (SMEs) from 24 countries applied to this second edition of the SUN Pitch Competition.
More than 25,000 small enterprises benefited from 600Million Interest free Loans,Chamber of Commerce President Richard Ngatia Says.
Following the post covid19 pandemic that rocked the Country for the past two years,small enterprises suffered a huge blow in their businesses with most of them closing their trading activities.
Speaking to one of the local dailies, the president of the Kenya Chamber of Commerce and Industry (KNCCI) Richard Ngatia said that as Chamber of Commerce, in partnership with Mastercard foundation, they supported MSMEs with working capital through credit facilities,by disbursing 600Million interest free and zero free loans.
“We offered a loan of over 600Million kenyan shillings to over 25,000 micro and small enterprises so that they come back on their feet,”Ngatia told the local daily.
Ngatia further said that ,KNCCI conducted a programme with ministry of health through Kemsa to support development and manufacturing of 7.5 million PPEs (masks),as an incentive to promote local manufacturers and producers of the raw material.
“In partnership with Kenya bankers association and equity bank,KNCCI provided training and skills enhancement to 32,000 SMEs,”Ngatia added.
KNCCI is now also in partnership with GIZ to implement the SME accelerator and covid 19 recovery support programme with an objective to support 80 sector based MSMEs in Nairobi and Kiambu counties through effective business.
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