Over 1,200 MSMEs Issued 2 Billion Shillings

Treasury CS Ukur Yatani [Photo: Sustainable Inclusive]

The National Treasury says more than 2 billion shillings has been issued to micro, small and medium-sized enterprises, under the state-backed credit guarantee scheme.

By December 2021, 1,291 small businesses had taken loans amounting to 2.1 billion shillings. 

Treasury CS Ukur Yatani says there was a steady growth in beneficiaries with 338 facilities issued in 2021 as compared to two facilities in 2020.

The fund was established to enhance access to quality and affordable credit for the growth and operations of MSMEs from commercial banks.

A select group of commercial banks are taking part in the scheme, including Diamond Trust Bank Kenya, KCB, Absa Bank Kenya, and the Co-op Bank among others.

The Government has been working closely with the banks to deepen the impact of the Scheme, through
continuous performance-monitoring and capacity-building where necessary
,” said Yatani.

The treasury says the government continues to work closely with banks, the private sector and development partners to improve the design, resource mobilization and the overall long-term sustainability of the Scheme.

This will ensure that it keeps pace with international best practice and principles governing the management of prudent public credit guarantee schemes.

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