The Kenya Private Sector Alliance (KEPSA), through the Jiinue Growth Program, successfully completed three Investor Readiness training sessions in Nyeri, Nairobi, and Nakuru. A total of 94 SMEs participated in the sessions that took place from 26^th to 29^th November 2024. The training is part of ongoing technical assistance efforts by KEPSA to enhance SME Financial Literacy as well as equip them with the essential knowledge and skills to secure funding and market opportunities. The sessions target youth-led and women-led enterprises, aiming to strengthen their capacity to attract investment and position their businesses for growth and sustainability in a competitive market.

In his opening remarks in Nyeri, Mr. Harrison Ngatia, KEPSA Chief SME & Enterprise Development Officer, praised the SMEs for their proactive approach in introducing themselves, particularly those who took the opportunity to effectively market their businesses. He stressed the importance of seizing every chance to showcase one’s products and services, reminding entrepreneurs, "Anytime you get an opportunity to address people, always ensure you market your business."

Ms. June Mwangi, KEPSA Technical Assistance Lead, addressed the attendees in both Nyeri and Nakuru, emphasizing the need for businesses to continuously position themselves in alignment with shifting trends and demographics. Noting that over 80% of Kenya's population is under the age of 35, she highlighted the importance of understanding and adapting to this youthful demographic. Ms. Mwangi also stressed the value of building strategic partnerships and positioning businesses for growth in a competitive landscape. She underscored the role of the Jiinue Growth Program in supporting businesses through access to tailored financing and marketing opportunities.

A key contributor to the training in Nyeri and Nakuru was Mr. Michael Itotia from Tally Solutions, who shared valuable insights on how technology can enhance business operations. He explained that at Tally, their mission is to empower business owners through innovative technological solutions that streamline processes and improve efficiency, allowing entrepreneurs to focus on growth and expansion. Michael’s session resonated with many attendees, particularly those looking to leverage technology for better financial management and scalability.

Mr. Eliud Were, from KEPSA Communications, also addressed the participants during the Nakuru training, where he highlighted the significant progress the Jiinue Growth Program has made in supporting businesses across Kenya. He shared that, as of October 2024, the program had committed 127 loans to SMEs valued at KES 211 million and issued 41,272 micro-loans to MSMEs totaling KES 1.03 billion. These figures, he noted, reflected the work the Jiinue Growth Program has done and continues to do in transforming the lives of young people and supporting their business growth across the country. He also encouraged them to join the KEPSA channel for updates, share the training calendar with other SMEs in different regions, and ensure that even more entrepreneurs could benefit from the program.

In the Nakuru training, Mr. Patrick Kemei facilitated participants through an engaging and highly participatory session on financial management principles. He covered essential topics such as financial health checks, maintaining books of accounts, and managing business growth through financial statements. One of the most valuable moments during the training was the group work session where participants applied insights from financial health checks and managing business growth. Through hands-on exercises, they analyzed real-life scenarios, presenting their findings on maintaining proper books of accounts. This not only reinforced the theory but highlighted how practical financial statements can transform day-to-day business operations.

In Nairobi, the training attracted 45 SME. Mr. Modechai Nyerere, KEPSA Project Assistant, introduced KEPSA and its pivotal role in ensuring a conducive environment for business growth. He also introduced the Jiinue Growth Program, a key initiative KEPSA is implementing in partnership with the Mastercard Foundation and six other partners. Mr. Modechai outlined the program’s role and objectives, setting expectations for the participants regarding the different financial products available under the program. He further elaborated on the MSME Financing Gateway, another initiative KEPSA is implementing in partnership with the International Trade Centre (ITC), which helps MSMEs access free, customized financial facilities and business support services through a one-stop platform.

The training in Nairobi was facilitated by Mr. Alfred Warui and Mr. Benson Ndegwa. Mr. Alfred guided participants through the SME Business Model Canvas and the key principles of financial management. Mr. Warui's session on the "Five Cs of Credit" – capacity, capital, collateral, character, and condition – was particularly well-received, as it provided a clear framework for SMEs to align their operations with credit requirements.

Mr. Benson Ndegwa, in his session, addressed the importance of financial projections and managing business growth through cash flow forecasts, which are essential for securing funding. His practical approach to crafting an elevator pitch and investment teaser further equipped businesses with the tools needed to engage investors effectively.

The sessions also highlighted the importance of networking and building strong business relationships. A notable example from Nyeri was the connection between Ms. Asha Kiranga, a seller of chicken and eggs, and Mr. Gitonga, a buyer. Having met during the program, they discovered shared interests and complementary skills, forming a strategic partnership that has since contributed to the growth of their businesses.

The Investor Readiness training sessions underscore KEPSA's dedication to empowering SMEs across Kenya. The Jiinue Growth Program will continue its rollout to other regions, aiming to reach more businesses nationwide.