This archive report was first published on 13 September 2019.
On September 13, 2019, the European Commission announced its commitment to supporting Small and Medium Enterprises (SMEs) in Kenya through various initiatives.
The commission plans to boost European investments in Kenya and improve the business environment for European companies, which will have a ripple effect on Kenyan enterprises.
According to the commission, SMEs contribute up to 20% of Kenya's GDP, making it essential to support home-based economic developments.
The commission has set aside Ksh286 million to establish the Africa-Europe Innovation Partnership (AEIP), which will provide funding opportunities and professional assistance to enterprises that use technology to solve local problems.
AEIP will also help local startups link with private sector players and investors in Europe, fostering technology transfer between African tech startups and European innovation ecosystems.
“AEIP is a catalyst for direct engagements between European and African incubators that explores models for technology transfer and access to markets while developing skills for African’ tech-preneurs’,” said EC Director for International Co-operation Maria Christina.
AEIP will run until June 2021, helping local SMEs explore foreign markets and access funding through platforms like Horizon 2020.
