NAIROBI, Kenya, Mar 12 – William Ruto has presided over the issuance of a Sh250 million financing facility from Kenya Development Corporation to Trans Elite County SACCO to expand credit access for over 10,000 MSMEs in the North Rift.
The funds will be disbursed through the Sacco’s Vuka Digital Loan and Kilimo Biashara products, targeting farmers, traders and small businesses in Nandi, Vihiga and Uasin Gishu counties.
The financing is part of the Sh13 billion Supporting Access to Finance and Enterprise Recovery (SAFER) Programme, backed by the World Bank, which aims to strengthen financial institutions and improve access to affordable credit for small businesses.
According to Norah Ratemo, Director General of KDC, the facility will support liquidity for financial intermediaries serving MSMEs.
Trans Elite SACCO CEO Vincent Too said the cooperative is leveraging mobile and USSD banking platforms to expand financial services for members.
So far, the SAFER facility has supported 2,774 MSMEs, with 43.4 percent of beneficiaries comprising women and youth entrepreneurs.
