The Lower Eastern Times Opening The Third Eye
Sidian Bank has partnered with Kenya Industrial Estates (KIE) to improve access to financing for small and medium-sized businesses operating in the manufacturing sector.
The partnership is expected to give MSMEs access to loans, training and business development support, while also connecting growing enterprises to larger financing facilities as their operations expand.
Principal Secretary in the State Department for MSME Development, Susan Mang’eni, said the initiative would help small businesses access affordable financing when they need it.
She called for financial solutions tailored to the different circumstances and challenges faced by MSMEs rather than relying on a uniform approach.
Sidian Bank Managing Director and CEO John Okulo said the bank would offer financing solutions based on each business’s specific needs and stage of growth.
He said the bank’s role goes beyond lending, noting that understanding the businesses it serves is key to developing financial products that match their needs and changing market conditions.
KIE Managing Director Nelson Kwamini said the partnership would bring together financing, training and business development services to help enterprises grow.
The initiative will initially focus on businesses involved in manufacturing and value addition, with the partners seeking to strengthen their capacity and support their expansion.
