Nairobi: Wednesday, April 3rd, 2024
The Nairobi City County’s Business and Hustler Opportunities Sector, through the Micro, Small and Medium Enterprises Directorate, held public participation barazas in eight of the 17 Sub Counties. These barazas aimed to gather feedback on the soon-to-be-launched Nairobi City County Biashara Stimulus Programme.
This two-day sensitization process will see the County collect views from across all 17 Sub Counties:
April 3rd, 2024: Westlands, Dagoretti North and South, Lang’ata, Kibra, Starehe, Kamukunji, Mathare
April 4th, 2024: Embakasi North, South, East, West and Central, Makadara, Ruaraka, Roysambu, Kasarani
Last week, at an internal and external stakeholder sensitization meeting held at Charter Hall, County Executive for Business and Hustler Opportunities, Ms. Maureen Njeri, announced the program’s goals. The Biashara Stimulus Programme aims to:
- Support Micro and Small Enterprises (MSEs) in accessing affordable credit from financial institutions by subsidizing interest rates to a single digit.
- Help MSE businesses grow into Medium Enterprises.
- Improve business and entrepreneurial skills for MSEs through training and capacity building.
- Offer support in market linkages to enhance competitiveness of their goods and services.
Ms. Njeri further emphasized the importance of MSMEs: “MSMEs are the backbone of today’s economy. This program is designed to create an environment where these businesses can thrive and contribute effectively to the City’s GDP.”
She clarified, “This program will strictly benefit existing businesses, either individually or through common interest groups. Verification will be conducted to ensure the businesses receiving support are legitimate and viable enterprises in need of help to grow.”
County Chief Officer for Business and Hustler Opportunities, Ms. Zipporah Mwangi, also spoke at the event and reiterated Governor Sakaja’s commitment to making Nairobi a “City of Order, Hope, Dignity, and Opportunities for All,” highlighting his view of uplifting Micro and Small Enterprises as a key driver of the economy.
The target beneficiaries expressed their appreciation for the opportunity to access affordable single-digit loans. They see this as a chance to boost their businesses and create avenues for expansion. They pledged their full support to the County and promised to help disseminate information at the grassroots level to ensure inclusivity.
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