SMEs registered with the chamber of commerce will have access to training at the Gulf African Bank's training hub in Bondeni.
Chamber says SMEs are the engine of growth and vital to economies, hence the move to support them.
The Kenya National Chamber of Commerce and Industry (KNCCI) Mombasa chapter has partnered with Gulf African Bank (GAB) to support more than 200 Small and Medium-sized Enterprises (SMEs) in upscaling their operations in the county.
Speaking after signing the agreement, KNCCI Mombasa chairlady Rukia Rashid said they had identified areas of cooperation that will include training in general trade, telecommunication, health, agri-business among others.
“This cooperation will assist in jointly organising business events like expos and forums that will add value to this MoU. We are also looking at provision of financing for qualified SMEs that are members of the chamber to grow and sustain their business,” she said.
“We shall also have a provision for training and skills enhancement for chamber SMEs in GAB training hubs situated at Bondeni in Mombasa County.”
The MoU resolutions were passed during the SME conference organised by KNNCI last year where capacity building, training and financing were identified as major challenges to small businesses in Mombasa.
With the deal, 260 SME companies that registered as members of the chamber of commerce will have access to training at the training hub in Bondeni.
Ms Rashid stressed that SMEs are the engine of growth and vital to economies, hence the move to support them.
“Research has suggested that micro business and SMEs account for 95 per cent of firms in most countries. They create jobs, contribute to GPD, aid industrial development, satisfy local demand for services, innovate and support large firms with input and services. In Africa, SMEs create 80 per cent of employment, establishing a new middle class and stimulating demand for new goods and services,” she said.
Next frontier
GAB managing director, Abdalla Abdulkhalik, said the partnership was done at the right time when SMEs have emerged as the next frontier for many Kenyans as they struggle to find formal employment in the current labour market.
He said many Kenyans are now employed by SMEs hence a need to make sure they are well empowered and supported.
“The idea behind this MoU is to combine our forces and empower communities around us in terms of offering them opportunities to engage in business. As GAB we will undertake training and capacity building of our members at the coast,” Mr Abdalla said.
