The government intends to roll out Ksh4Billion Stawisha SME Mashinani in June to provide affordable credit to MSMEs. Stawisha SME Mashinani intends to be a one-stop-shop solution where SMEs receive business advisory services, asset financing, working capital, project finance, and grants.
The announcement came following the signing of a Memorandum Of Understanding between the Ministry of Industrialization and IDB Capital Limited.
MSMEs focusing on BIG4 AGENDA will receive financing to upscale operations and quality of their products. President Kenyatta launched the programme in Nyandarua county with countrywide rollout to follow suit.
Sectors to benefit from the scheme include agriculture, food processors, textiles and apparels, furniture and metal fabrication, medical facilities, pharmaceuticals, and building and construction companies.
IDB Capital will distribute the funds to qualified enterprises together with Industrial and Commercial Development Corporation, Kenya Industrial Estates Limited, Micro and Small Enterprise Authority and the Kenya National Trading Corporation.
IDB Capital Limited is a state Development Finance Institution tasked with furthering Kenya’s economic development by offering competitive financial services to SMEs.