This morning, we were pleased to feature at the Kenya Public-Private Sector MSMEs Dialogue (MSMEs Connect Official Launch) held at the KICC.
At the event, our MD &CEO, Abdi Mohamed, delivered a keynote speech on behalf of the Kenya Bankers Association (KBA) reinforcing the commitment of the banking industry to Kenya’s MSMEs recognising their crucial contribution to our nation’s economy.
Speaking at the event, Abdi said: “As the banking industry, we understand the challenges MSMEs face, particularly in accessing affordable financing, navigating regulatory challenges, and formalising their businesses. Our role is to bridge these gaps, creating an ecosystem where MSMEs can thrive, innovate, and contribute to national development.
He added: “To this end, the banking sector is committed to facilitating access to credit for MSMEs through our collective commitment, which we made last year to provide new loans worth KES 150 billion annually over the next three years to this critical sector our economy. Beyond access to finance, we recognise that a conducive business environment is fundamental to the success of enterprises. The banking industry is, therefore, committed to supporting initiatives that enhance the ease of doing business, including the harmonisation of processes to make business formalisation seamless."
“As an industry, our support extends beyond financial services. We are actively championing government initiatives that drive economic transformation and social impact. One such initiative is the creative sector entrepreneurship programme, which seeks to unlock opportunities for young entrepreneurs in the creative sector. As we embark on the next phase of supporting MSMEs, we reaffirm our commitment to strengthening financial inclusion, advocating for an enabling regulatory framework, and fostering sustainable economic development. The banking industry stands ready to play its part in ensuring that MSMEs have the necessary resources and support to grow, innovate, and contribute meaningfully to our economy."
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