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World Bank commits to support SMEs, startups growth

The World Bank has partnered with the government to offer business support and investor linkages to Small and Medium Enterprises (SMEs) and local startups.

Through the Association of Startup and SMEs Enablers of Kenya (ASSEK), enterprises will receive seed funding and tailor –made business programmes which will cushion them from risks and offer technical support.

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ASSEK Chief Executive Officer Mercy Kimalat said the association will support SMEs and Startups growth through provision of business training that will enhance their productivity and improve on the quality of their services and products.

“We have transformed SMEs and Startups by matching them with the right coach and mentor to help them grow. This is done by ensuring they have access to international opportunities though the stakeholders that we have partnered with. This has enabled many to sell their services and products regionally and beyond,” she said.

According to Kimalat, they have formulated a framework which will create incentives for local and international investors which will help fast track development of new products for the market.

“The key objective of ASSEK is to boost job creation and growth, identifying emerging opportunities, and fostering an environment conducive to meaningful networking,” she added.

The program has resulted in increased inclusion in the ecosystem, standardization of approaches, attraction of investment opportunities, job creation and value addition to local and international stakeholders enabling the scaling of the innovation space in Kenya

Sally Namuye
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