The management training offered both online and face to face is aimed at enabling entrepreneurs tap existing market opportunities for sustainable growth.
Development of the Inuka MSME programme curriculum, which includes skills required to formalise SMEs operations, was done in partnership with the Kenya Institute of Management (KIMS).
The Kenya Bankers Association (KBA) has unveiled a training programme for small and medium entrepreneurs (MSME) to boost their access to loans.
The management training offered both online and face to face is aimed at enabling entrepreneurs tap existing market opportunities for sustainable growth.
Development of the Inuka MSME programme curriculum, which includes skills required to formalise SMEs operations, was done in partnership with the Kenya Institute of Management (KIMS).
“Since we embarked on this programme earlier this year, more than 170 start-ups and established business owners have received face-to-face enterprise management training, with close to 900 already enrolled on the programme’s online training platform,” said Habil Olaka, the KBA chief executive.
Other partners under the programme include the Micro and Small Enterprise Authority, Kenya Association of Manufacturers (KAM), Ministry of Industry, Trade and Cooperatives, Kenya Private Sector Alliance(Kepsa) and Kenya National Chamber of Commerce and Industry.
In the recent past, the growth of MSME has been hampered by drought, which affected agricultural output. The protracted 2017 electioneering period and the delay by the government in paying suppliers are other key bottlenecks experienced.
The introduction of the Banking (Amendment) Act, which brought about the interest rate cap regime, has also significantly reduced lending to SMEs due to lower risk appetite on the part of lenders.
“It is on this consideration that we have recommended a review of the interest rate cap to enable banks to support establishment of businesses,” said Mr Olaka.
Through the Inuka programme, KBA is keen to help address challenges that have slowed down MSME growth and help the businesses flourish. Statistics show that Kenya has been leading its peers in Africa in the area of SME finance. Between 2014 and 2015, Kenyan banks extended Sh200 billion to SMEs across the country with much of this investment targeting medium-sized companies. This was an increase from the 2013 to 2014 period which saw banks lend Sh190 billion to the segment.
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