LENDING A HAND TO THE MICRO, SMALL AND MEDIUM ENTERPRISES

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Kenya Bankers Association (KBA), the banking industry umbrella body, and the Kenya Institute of Management (KIM), recently signed a memorandum of understanding (MOU) towards the development of a curriculum tailored for micro, small and medium enterprises (MSMEs). It will be coordinated under KBA’s Inuka Enterprise Development programme.

The implementation of the programme is a show of the banking industry’s commitment to empowering MSMEs to grow their businesses to profitability and stability.  The banking industry through KBA last year pledged to establish the programme after calls from the banking public to assist MSMEs in their quest to access working capital.

The programme will be available during the third quarter of this year via an online platform that KBA will launch to deploy the training material that will be developed by KIM.

In addition, the association will hold targeted face-to-face training sessions  in Nakuru and Nairobi.

The signing of the MoU comes at a time when MSMEs have faced difficulty in accessing credit from banks as a result of the enactment of the 2016 Banking (Amendment) Act.

“According to the Central Bank of Kenya, lending to micro, small and medium enterprises fell by 5.7 per cent or approximately Ksh 13 billion between August 2016 and April 2017,” says KBA’s chief executive officer, HabilOlaka. Kenya currently leads in Africa in terms of the proportion of bank capital that is directed to the sector.

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