{"id":108187,"date":"2023-12-04T19:08:54","date_gmt":"2023-12-04T19:08:54","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/smes-to-benefit-from-sh7-7bn-world-bank-funding"},"modified":"2023-12-04T20:05:32","modified_gmt":"2023-12-04T20:05:32","slug":"smes-to-benefit-from-sh7-7bn-world-bank-funding","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/smes-to-benefit-from-sh7-7bn-world-bank-funding","title":{"rendered":"SMEs to benefit from Sh7.7bn World Bank funding"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>Businesses in Kenya with high growth potential will benefit from $50 million (Sh7.7 billion) grants to grow their operations in a new World Bank-supported programme.<\/p>\n

Already, 23 successful SMEs have been identified for performance-based grant funding aimed at boosting their ability to expand their businesses under the Kenya Industry and Entrepreneurship Project (KIEP).<\/p>\n

The program is being implemented by the State Department for Industry under the Ministry of Investments and Trade.<\/p>\n

Launched in November 2020, KIEP 250+ has played a pivotal role in fostering the growth of Small and Medium Enterprises (SMEs) in Kenya. Cohort 1 SMEs have undergone diagnosis to identify gaps and areas for business improvement.<\/p>\n

The grants awarded, averaging $50,000 per SME, are aimed at enhancing innovation, technology adoption, productivity, and international competitiveness.<\/p>\n

Speaking at the grant contract signing ceremony, Industry Principal Secretary Juma Mukhwana said the government is committed to supporting SME growth.<\/p>\n

The project places special emphasis on gender inclusivity, with a mandate to support at least 24 percent of women-led enterprises. Women entrepreneurs are well-represented among the recipients of the Cohort 1 grants.<\/p>\n

Aligned with the government’s Vision 2030 and Medium-Term plans, KIEP 250+ prioritises SMEs in key areas of the Bottom-Up Economic Transformation Agenda, including manufacturing, agriculture, housing and settlement, healthcare, digital superhighway, and creative Economy.<\/p>\n

“KIEP 250+ aims to stimulate private sector growth, resulting in employment generation, export expansion, and increased competitiveness and productivity,” said Mukhwana.<\/p>\n

The project aims to support 250+ SMEs from across the country, providing essential technical assistance to facilitate business improvement and growth.<\/p>\n

In continuation of this initiative, KIEP 250+ has recently opened a new call for applications, encouraging eligible businesses to apply and benefit from this transformative program.<\/p>\n

Mukwana reaffirmed the government’s commitment to supporting businesses in their journey towards growth, innovation, and enhanced competitiveness.<\/p>\n

For More News And Analysis About Kenya<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. Businesses in Kenya with high growth potential will benefit from $50 million (Sh7.7 billion) grants to grow their operations in a new World Bank-supported programme. Already, 23 successful SMEs have been identified for performance-based grant funding aimed at boosting their ability to expand their businesses under the Kenya Industry and Entrepreneurship Project […]<\/p>\n","protected":false},"author":84,"featured_media":108186,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[6857,7003,544],"class_list":["post-108187","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nSMEs to benefit from Sh7.7bn World Bank funding - kenya<\/title>\n<meta name=\"description\" content=\"Businesses in Kenya with high growth potential will benefit from $50 million (Sh7.7 billion) grants to grow their operat ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/smes-to-benefit-from-sh7-7bn-world-bank-funding\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SMEs to benefit from Sh7.7bn World Bank funding\" \/>\n<meta property=\"og:description\" content=\"Businesses in Kenya with high growth potential will benefit from $50 million (Sh7.7 billion) grants to grow their operat ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/smes-to-benefit-from-sh7-7bn-world-bank-funding\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-04T19:08:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-04T20:05:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2023\/12\/sm_1701707598.429385.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/smes-to-benefit-from-sh7-7bn-world-bank-funding#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/smes-to-benefit-from-sh7-7bn-world-bank-funding\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"SMEs to benefit from Sh7.7bn World Bank funding\",\"datePublished\":\"2023-12-04T19:08:54+00:00\",\"dateModified\":\"2023-12-04T20:05:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/smes-to-benefit-from-sh7-7bn-world-bank-funding\"},\"wordCount\":308,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/smes-to-benefit-from-sh7-7bn-world-bank-funding#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2023\/12\/sm_1701707598.429385.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Kenya\",\"Kenya\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/smes-to-benefit-from-sh7-7bn-world-bank-funding#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/smes-to-benefit-from-sh7-7bn-world-bank-funding\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/smes-to-benefit-from-sh7-7bn-world-bank-funding\",\"name\":\"SMEs to benefit from Sh7.7bn World Bank funding - 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