The Kenya National Chamber of Commerce (KNCCI) is formulating a collaborative policy with commercial banks and financial lenders to help Small Medium-Sized Enterprises and chambers member’s access loans and funding at the right time.
According to KNCCI-Central officials, KNCCI has a better understanding of its member’s needs and the challenges they encounter while processing loans and funding requests.
The successful repealing of section 33b of the Finance Bill 2019- which was signed into law by President Uhuru Kenyatta; somewhat marks the beginning of the end of the hurdles faced by SMEs while accessing financial help from banks and other lenders.
Nonetheless, officials from the National Chamber of Commerce and Industry in Central Kenya still believe its members- most of whom are industry players from Small, Medium-Sized Enterprise Sector, and need help to get the credit in the right time.
For this reason, they say that the NCCI is in talks with banks and other financial lenders to ensure that members of the chamber and SMEs receive these credits lenders seamlessly and in good time.
According to the Chief Executive officer, KNCCI-Central Daniel Miano, while pushing for a financial assistant on behalf of the SMEs, a keen focus will be placed on SMEs investing in agriculture.
Besides agricultural investments, KNCCI in central Kenya plans to give more business opportunities to Youths, women and People Living with Disability to tap and harness from unmaximized entrepreneurial talents during an oncoming trade expo that aims at contributing into the government’s BIG 4 agenda.