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SMEs to benefit from Ksh. 5 Billion grant from KIEP

Successful Small and Medium Enterprises (SME’s) applicants in the KIEP (Kenya Industry and Entrepreneurship Project) 250 + project will have an access to funding and technical assistance to improve their productivity and strengthen innovation.

The Ksh. 5 Billion partnership with World Bank will ensure SME’s benefit from performance based grant funding that will be of immense support for business development, managerial and technical skill enhancement and also provide them with access to cutting edge technology.

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Principal Secretary State Department for Industry Dr. Juma Mukhwana said the government is committed to selecting SME’s from all over the country with 20% being women owned businesses

“We have officially opened the second application window for eligible SMEs to benefit from KIEP 250+. The project aims to build competitive world-class SMEs, thereby enhancing Kenya’s manufacturing sector and entrepreneurship ecosystem,” he said. ”

Requirements for the application include;

-SMEs must be legally registered in Kenya and have been in operation for a minimum of two years.

-They should boast an annual turnover ranging from Ksh. 50 million to Ksh. 1 billion.

-SMEs must be nominated by a lead firm, financial institution, or business association and have a management team willing to commit to a performance improvement plan.

“Kenya’s SME sector has previously encountered market failures, including low productivity, marginalized innovation, and gaps in linkages between traditional industries and SMEs. KIEP 250+ addresses these challenges by mobilizing working capital, technology, and expertise to support the creation of a sustainable innovation ecosystem.” said KIEP 250+ team leader, Marteen Susan.

KIEP 250+ aims to bring onboard SMEs in all sectors with a strong emphasis on SMEs in the government’s Bottom-up Economic Transformation Agenda (BETA) with priority sectors in manufacturing, agriculture, housing and settlement, healthcare, as well as digital superhighway and creative economy.

To register eligible SMEs can visit: https://250plus.kiep.go.ke. Persons living with disabilities (PLWD), youth, and women-led enterprises are highly encouraged to apply.

Sally Namuye
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