MSEA, KBA Target MSMEs in Drive to Expand Access to Finance
The Micro and Small Enterprises Authority (MSEA) and the Kenya Bankers Association (KBA) have intensified efforts to improve access to finance for small businesses, with 150 entrepreneurs from the North Rift participating in a training programme in Eldoret.
The two-day forum at Sirikwa Hotel brings together micro, small and medium enterprises (MSMEs), with a focus on women, youth and businesses operating in key sectors of the regional economy.
MSEA North Rift regional officer Alton Kogo said the programme aims to address persistent information gaps that continue to hinder small businesses from accessing financing, markets and other enterprise development opportunities.
“There is a gap in the market in terms of access to information, especially on financial access, market access and financial literacy,” Mr Kogo said.
The training covers eight modules jointly developed by MSEA and KBA, including financial literacy, budgeting, business planning, record keeping, market linkages and access to financial services.
The initiative also exposes entrepreneurs to government programmes and enterprise support schemes, including the Kenya Jobs and Economic Transformation Project, opportunities offered through the National Industrial Training Authority (NITA), business formalisation initiatives and marketing support.
A key component of the programme is the selection of 30 enterprises for the Equity Bank Foundation mentorship programme. The selected businesses will receive continued support aimed at strengthening their operations and enhancing their ability to access affordable financing.
Mr Kogo said the partnership provides MSMEs with an opportunity to engage directly with financial institutions and better understand products tailored for small businesses.
“Our role is to ensure that MSMEs receive adequate information to make informed decisions and grow their businesses,” he said.
MSEA said it is providing technical expertise, personnel and information on available government and partner programmes as part of the initiative.
Participants are expected to receive certificates upon completion of the two-day training.
The Eldoret forum forms part of a nationwide partnership between MSEA and KBA aimed at bringing financial literacy and enterprise development support closer to small businesses.
The programme has already been piloted in several counties, with Uasin Gishu among the early beneficiaries. Additional training sessions are expected to be rolled out in other counties.
The collaboration comes at a time when access to affordable credit, business information and markets remains a major challenge for many MSMEs, which constitute a significant share of Kenya’s private sector.
By combining financial education with mentorship and direct linkages to banks, MSEA and KBA aim to enhance the capacity of small businesses to formalise, access financing and scale their operations.
