This archive report was first published on 11 November 2019.
On November 11, 2019, the Kenya National Chamber of Commerce (KNCCI) announced a collaborative policy with commercial banks and financial lenders to facilitate access to loans and funding for Small Medium-Sized Enterprises (SMEs) and its chamber members.
KNCCI officials stated that the organization has a better understanding of its members' needs and the challenges they face while processing loan and funding requests.
The successful repeal of section 33b of the Finance Bill 2019, signed into law by President Uhuru Kenyatta, marked a significant step towards easing the hurdles faced by SMEs in accessing financial help from banks and other lenders.
Despite this progress, officials from the National Chamber of Commerce and Industry in Central Kenya emphasized the need for their members, primarily industry players from the SME sector, to receive credit at the right time.
KNCCI is in talks with banks and other financial lenders to ensure seamless and timely credit access for its members and SMEs.
According to Daniel Miano, Chief Executive Officer of KNCCI-Central, the organization will focus on SMEs investing in agriculture while pushing for financial assistance on their behalf.
Additionally, KNCCI in central Kenya plans to provide more business opportunities to youths, women, and people living with disabilities during an upcoming trade expo, contributing to the government's BIG 4 agenda.
