Kenya: KDC, KNCCI Partner to Accelerate Credit Flow to SMEs

9 June 2022
Capital FM (Nairobi)

Nairobi — The Kenya Development Corporation (KDC) and the Kenya National Chamber of Commerce and Industry(KNCCI) have teamed up to accelerate the provision of credit to small businesses.

The partnership opens up an avenue for KNCCI members to have access to relevant and tailored products and services to grow their businesses; whilst for KDC the MoU gives the Corporation access to potential customers for uptake of its products.

While speaking during the signing of the MOU between the two agencies, KDC Director-General Christopher Huka noted that this partnership will help them reach more entrepreneurs who need financial muscles to boost their businesses.

Apart from financial help, Huka also noted that the businesses will benefit from other non-financial services like advisory and networking.

On the other hand, KNCCI president, Richard Ngatia noted that this partnership will help bring forth different opportunities across the country in far as alternative financing options are concerned.

He added that since KNCCI acts as the voice of its members, there is a need to advocate for lawmakers to formulate policies that provide a conducive environment for businesses in the country such as SMEs and exporters as well.

On exporters, Ngatia noted that they are in engagement with the DRC as they have taken around 300 companies there in partnership with other financial institutions.

"We are currently in engagement with DRC where we have already engaged them and taken around 300 companies to DRC and they have got opportunities and we are taking another 300 this month and we believe they will be able to get opportunities there," noted Ngatia.

Read the original article on Capital FM.

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