President William Ruto presided over the issuance of a KSh 250 million funding facility from the Kenya Development Corporation (KDC) to Trans Elite County SACCO in Kapsabet, aimed at expanding access to affordable credit for more than 10,000 micro, small and medium enterprises (MSMEs) across the North Rift region.
The financing, to be rolled out through the SACCO’s digital lending platforms—Vuka Digital Loan and Kilimo Biashara—will target farmers, traders, and entrepreneurs in Nandi, Vihiga and Uasin Gishu counties. It will support key local value chains including dairy, tea, coffee, and retail trade.
The funding forms part of the KSh 13 billion Supporting Access to Finance and Enterprise Recovery (SAFER) Programme, a World Bank–supported initiative designed to strengthen financial institutions and enhance credit access for MSMEs nationwide.
Speaking at the event, President Ruto highlighted the pivotal role of SACCOs and MSMEs in Kenya’s economic transformation.
“SACCOs remain a powerful vehicle for promoting financial inclusion and powering small business growth. Many MSMEs that struggled during the COVID-19 pandemic are now rebuilding and expanding thanks to improved access to affordable credit,” he said, noting that the support is driving job creation under the government’s Bottom-Up Economic Transformation Agenda (BETA).
MSMEs currently account for more than 90 percent of Kenyan businesses, employ over 15 million people, and contribute roughly 30 percent of GDP. Yet access to affordable financing continues to limit their growth.
KDC Director General Norah Ratemo said the facility reinforces the role of development finance institutions in unlocking capital for grassroots enterprises.
“This partnership demonstrates KDC’s commitment to strengthening financial intermediaries that serve MSMEs. Through SACCO networks, we are enabling thousands of entrepreneurs and farmers to access the resources they need to grow and create jobs,” she said.
To date, the SAFER facility has benefited 2,774 MSMEs, helping them sustain operations and preserve jobs after the pandemic’s economic shocks. Women and youth entrepreneurs make up 43.4 percent of the beneficiaries, reflecting the programme’s focus on inclusive growth.
Trans Elite CEO Vincent Too said the SACCO’s embrace of mobile and USSD banking platforms has enhanced financial inclusion in rural areas by allowing members to access services conveniently.
Under the SAFER Programme, KDC channels wholesale financing to SACCOs and microfinance institutions to reach enterprises that often face barriers to traditional credit. So far, 83 percent of the programme’s funds have been committed to 14 financial institutions, with a target of reaching more than 800,000 beneficiaries nationwide.
The initiative aligns with BETA’s priority pillars—empowering MSMEs, strengthening cooperative institutions, and promoting inclusive economic growth—while unlocking opportunities for entrepreneurs across Kenya.
