The Kenya Bankers Association, Kenya Climate Innovation Center, and FSD Kenya have partnered to launch a blended finance project to finance Small and Medium-sized Enterprises (SMEs) in Kenya. Blended finance is when funds are invested in sustainable development projects and the projects provide financial returns to investors.
The partnership between KBA, FSD Kenya, and Kenya Climate Innovation Center to finance SMEs in sustainable development is the first project of its kind in Kenya. The program aims to provide funding that is risk-tolerant, concessionary, and flexible to small and medium businesses (SMEs) engaged in sustainable development.
Kenya’s banking sector is one of the major economic drivers in the country. The Kenya Bankers Association, the banking industry umbrella body, has started a Sustainable Finance Initiative course “designed to enable financiers to create long-term value for the economy, society and the environment.” The association aims to increase investments in the green economy and in projects that are good for the environment.
KBA will host a week-long virtual summit for Small and Medium-sized enterprises starting tomorrow 22nd June to 29th June. The Summit will kick off with the launch of a novel Blended Finance partnership jointly developed by KBA, Financial Sector Deepening Kenya (FSD-K), and the Kenya Climate Innovation Center (KCIC) on Tuesday, June 22nd. This online event is open to all and participants will learn about the blended finance project aimed at helping SMEs in Kenya to scale up.
The inaugural event will be followed by a three-day virtual tradeshow where banks will interact and showcase their products and services to customers through digital engagement booths. Anne Mutahi, the SME Advisor to the President of Kenya will officially launch the trade show on Thursday 24th June.
Kenya Bankers Association (KBA) will hold the Inua Biashara Event on June 25th. The event will be officiated by Hon. Eric Wafukho, Chief Administrative Secretary (CAS) National Treasury and Planning, Ms Rebbecca Mbithi, CEO, Family Bank, and Dr Habil Olaka, CEO, KBA. On that day, banks will participate in a Movable Assets Registry Training Workshop with the aim of promoting the uptake of the registry.
Some of the speakers lined up for the week-long summit are Henry Rithaa, Chief Executive, Micro and Small Enterprise Authority (MSEA) and John Mwendwa, Head of Department of Business Reforms and Transformation, Ministry of East African Community and Regional Development.
Also read: Kenya Banking Sector Set To Hold Week Long Inua Biashara Summit for SMEs
