By Ednah Kiarie
KCB Bank Kenya set aside KShs. 1.3 billion to
support Micro, Small, Medium Enterprises
(MSMEs) in Kiambu County to help them
weather the COVID-19 pandemic.
Under the arrangement, KCB will provide
affordable facilities to enterprises whose
businesses have been affected by the outbreak.
The County Government will pay part of the
interest (6%) while business owners will take up
the balance (7%).
“The interest sharing, and guarantee model is
one of the innovative ways the bank has
developed through partnership with the county
government to facilitate credit to catalyze the
business growth of the entrepreneurs and
enable economic recovery,” said KCB Director
Retail Mrs Annastacia Kimtai during the launch
of the proposition on Friday.
“We appreciate the potential MSMEs have on
the economic growth in Kenya and that is why
the Bank takes a keen interest to support the
sector. We see this facility as a strong cushion
for small businesses in the county, something
that should be replicated across the country.
We hope it will boost our economic recovery
and provide capital and other resources to
small businesses to help them weather the
crisis. If MSMEs do well, the economy does
This fund targets existing MSMEs in Kiambu
County where entrepreneurs will be financed
according to their ability to pay based on their
“We are very pleased to partner with the bank
as we know the importance of entrepreneurship
and the major role it plays in stimulating growth
in both urban and rural areas while at the same
time freeing more people from the poverty trap.
The loan facilities provided by the bank will
ensure business continuity during the crisis,”
said Kiambu County Governor Dr. James Nyoro.
The programme has also drawn in 4 other
partners—the Kenya National Chamber of
Commerce & Industry (KNCCI), Master Card
Foundation, Kenya Investment Authority and
Zetech University to drive the commitment to
keeping businesses solvent in response to the
The County Government of Kiambu will develop
policies and structures that support the
utilization and sustainability of the fund and
also facilitate capacity building for
The facility is part of a raft of initiatives which
KCB is running to support the revival of
businesses affected by the effects of COVID-19
pandemic. In addition, the Bank rolled out relief
accommodation measures to cushion