On 8th and 9^th October 2024, KEPSA, under the Jiinue Growth Program (JGP), facilitated an investor readiness training that brought together 38 SMEs from the Nairobi region.  The training underscores the ongoing KEPSA commitment to fostering the growth of local businesses through tailored support and capacity building. Experts in the field facilitated the training: Mr. Brian Munaita, and Mr. Benson Ndegwa, the workshop equipped the participants with the essential skills needed to grow their businesses. In October, the training will happen in the following areas: Makueni, Machakos, Nyandarua, Meru, Chuka and Embu.

 Ms. June Mwangi, from KEPSA, in her remarks, emphasized the importance of business ethics and integrity throughout the loan process.  She added that all applicants must do due diligence when submitting their documents via the application portal and embrace financial discipline to enable them to unlock greater opportunities for their businesses. "The more you pay, the more support you’ll receive, and the more your credit rating increases" she emphasized

Additionally, she reiterated the importance of businesses aligning their growth plans with existing financial obligations highlighting the program’s competitive loan offering that has a low interest rate of less than 10% per annum.

On his part, Mr. Benson Ndegwa, the trainer, emphasized the importance of businesses having audited books when applying for the loan and what loan officers will ask for when applying for the loan.

 “While the timeline typically takes between three to five weeks, each step requires attention to detail. From submitting the application, reviewing financial documents, undergoing KYC (Know Your Customer) checks, to conducting a site visit, every phase is designed to ensure that both the applicant and lender are aligned. Only after these steps are completed can the loan be approved and disbursed.” He added.

Ms June Mwangi, KEPSA's Technical Assistance Lead, closed the workshop by highlighting the role of KEPSA in advocating for the private sector to create an enabling environment for businesses to grow. During her remarks, Ms. Mwangi stressed the importance of understanding the program's focus areas, and her clear explanations helped the entrepreneurs see how the Jiinue Growth Program can empower SMEs by providing technical and financial support, not only through affordable loan products but also to strengthen their operations for sustainable growth.

The Participants also reflected on valuable takeaways from the training. One major insight was the critical role of proper management of finances in their businesses and the importance of understanding their business performance. "I have been doing well, but it is not translating to my books of account. I have found clarity, from the training and I now know what I need to do for my business to move a level up,” one participant echoed. but aren’t realizing it. If you can’t clearly describe your business, then we term it an expensive hobby." Without accurate records, and clarity on your business value proposition, entrepreneurs often mistake activity for progress.

The program will continue to roll out in other regions nationwide in the next few months and is expected to reach over 60,000 businesses across the country in the next 2.5 years, broadening its reach to more businesses.

KEPSA continues to play a pivotal role in enhancing the entrepreneurial landscape in the country.

Photos: https://flic.kr/s/aHBqjBMpvW