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SMEs to benefit from Ksh.282 Billion funding from French Government

SMEs to benefit from Ksh.282 Billion funding from French Government
March 14, 2019 Eastern Newspaper

An estimated 10,000 Small and Medium enterprises (SMEs) are set to benefit from a Sh.282.5 Billion kitty from the Agence Française de Développement (AFD) through the newly launched Choose Africa campaign.

The campaign aims at igniting innovative and entrepreneurial ideas among African youth and help create home-grown jobs and wealth creation.

“A total of 10,000 African SMEs are intended to benefit from Choose Africa and 600 of these businesses will receive equity financing. The French government – through the offices of AFD and Proparco – is using this initiative to reaffirm its support for African business and support local economic development across the continent,” the AFD said in a statement.

Speaking during the launch, Trade Cabinet Secretary Peter Munya lauded the partnership between Kenya and France and welcomed the support to SME’s saying the sector can create jobs and open opportunities for the youth with adequate funding and policies in place.

 

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