Over 300 Small and medium enterprises are set to benefit in this year’s Inuka Enterprise Program organised by the Kenya Bankers Association (KBA).
The program intends to support Micro, Small and Medium-sized Enterprises (MSMEs) by equipping entrepreneurs with skills designed to enable them to run businesses in a better way with the hope to reach over 10,000 MSMEs in the next five years, through the interactive online learning platform.
‘’The programme, which was initiated by the banking industry this year, was motivated by the need to facilitate more access to loans to small businesses. So far, more than 170 start-up and established business owners have received face-to-face enterprise management training, with close to 900 already enrolled on the programs online training platform. One-on-one sessions for Nairobi County conclude this week.’’ KBA said in a statement.
According to KBA Chief Executive Officer, Habil Olaka, Micro, Small and Medium-sized Enterprises are principal drivers of the economic growth and regional development.
“MSMEs remain a principal driver of real economic growth and regional development through their contribution to industry, innovation and job creation. However, establishing business owners face various challenges that include limited access to financing. A low capacity to leverage on existing market opportunities for growth is another fundamental concern for entrepreneurs,’’ Mr Olaka Said during the launch of the program in Nakuru.
Adding that the KBA will be working with its member banks to mobilize Sh30 billion to finance the targeted MSMES.
However, for the Interested MSMEs, they will be required to complete an online course, where they will be directed to modules tailored to their learning needs.