Ministry of Commerce, Stanbic Bank to build capacity in the SME – KBC sector


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The government plans to train thousands of Small and Medium Enterprises (SMEs) with a view to developing their business management skills.

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This will be implemented through a Memorandum of Understanding between the Ministry of Industry, Trade and Business Development and Stanbic Bank which targets 50,000 trainers and another 1000 trainers to support the country’s Business and Industrial Development agenda.

Speaking at the signing of the agreement on Friday, Cabinet Secretary for Industrial Development, Trade and Commerce Betty Maina said the government intends to partner with players in the private sector through a variety of intervention programs that will enable SMEs to reach their full potential.

“Other activities will include promoting market access and business relationships for SMEs, capacity building. I am glad that 200 trainers have already been trained. It will also include research support for MSMEs so that government plans and responses are informed and data, “CS Maina said.

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The move comes as Kenya holds trade talks with a range of partners, placing industry priority as the Big 4 agenda, while still recovering from the devastating effects of the global COVID-19 epidemic.

“We believe that we can increase that skill and capability and empower all our entrepreneurs to take on new business challenges and start working in the new era that we have after the covid,” added Charles Mudiwa, CEO of Stanbic Bank.

SMEs will also receive support on government trade negotiations, business growth and access to credit.

Mudiwa said the bank is also focused on providing more financial security as well as the development of social pillars in the country through our established networks, available resources, and strategic partnerships to invest in key sectors that connect with the big government Big 4 Agenda.


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