NAIROBI, Kenya, Sept 15 – Sidian Bank and Kenya Industrial Estates (KIE) have partnered to increase access to loans for small and medium-sized manufacturing businesses.
The partnership will provide MSMEs with financing, training and business support, as well as referrals to larger credit facilities as they expand.
State Department for MSMEs Development Principal Secretary Susan Mang’eni said the deal will help improve access to affordable and timely financing for small businesses.
“We must move beyond a one-size-fits-all approach and develop solutions that respond to the realities of MSMEs,” Mang’eni said.
On his part, Sidian Bank Managing Director and CEO John Okulo said the lender will provide financing based on the needs and growth stage of each business.
“Our role is not simply to provide financing. It is to understand the businesses we serve and develop financial solutions that respond to their needs, their stage of growth and the changing market environment,” Okulo said.
KIE Managing Director Nelson Kwamini said the partnership will combine access to finance with training and business development support.
The partnership will initially target businesses involved in manufacturing and value addition.
