Small and Medium Enterprises (MSMES) from Elgeyo Marakwet County are set to access subsidized credit facilities from KCB Bank, courtesy of a partnership worth Ksh30 million between KCB Foundation and the devolved unit.
The deal seeks to accelerate wealth creation by skilling 500 youth and creating 2,000 jobs through the Bank’s enterprise development programmes – 2jiajiri and Mifugo ni Mali. Through 2jiajiri, the youth will receive affordable capital, vocational and technical skills training and business development support.
Under Mifugo Ni Mali, Elgeyo Marakwet livestock farmers will receive training to address productivity, nutrition and husbandry challenges as well as financing to scale their market outreach through livestock value-chain interventions.
Speaking during the signing of the MoU, Elgeyo Marakwet County Governor Wisley Rotich said, “I am delighted to welcome KCB Bank here because the journey we are about to embark on is such an exciting one. As a result, our youth and SMEs will greatly benefit from this arrangement, with the long-term goal of elevating their respective proposition within their respective sectors,’’
On her part, Head of KCB Foundation Caroline Wanjeri, expressed her optimism on the success of the partnership given the experience from other engagements across the country.
“As KCB Foundation, we pride ourselves in our flagship programme – 2Jiajiri – which seeks to formalize the informal job sector to make it appealing to the youth and spur socio-economic development in society. We look forward to working with the leadership of Elgeyo Marakwet to make this partnership a reality,” Wanjeri said.
Currently, KCB Foundation has partnered with 24 counties in youth skilling and MSME development efforts; targeting a total of 29 counties by the end of the exercise.
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