Kenya’s Ministry of Co-operatives and Micro, Small and Medium-sized Enterprises has launched a new program, ‘viwandani mashinani’, aimed at providing grants of up to Sh6m to young manufacturers in the country. The program will be supporting the country’s key value chains, such as agribusiness, leather, textiles, milk, edible oils, and construction sectors. Additionally, SMEs in Kenya will benefit from a Sh2.7bn facility that will offer support, digitization, and training. The initiative is aimed at supporting Kenya’s 7.5 million small and medium enterprises that contribute 30% to the country’s gross domestic product. The new scheme will be focused on providing more support to the country’s MSMEs, which have significant untapped potential. According to the Cabinet Secretary, access to finance and affordability are the main challenges hindering the achievement of success in SMEs. The program will create opportunities for young manufacturers in various counties and provide grants to help them expand their operations.
Young manufacturers in Kenya to benefit from Sh6m grants for expansion
