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In a groundbreaking effort to empower Micro and Small Enterprises (MSEs) within Nandi County, the Micro and Small Enterprises Authority (MSEA) has teamed up with DT Global to launch the Jiinue Growth Program. This initiative, backed by the Mastercard Foundation, aims to support 70% of youth and women entrepreneurs, offering them comprehensive training, mentorship, and access to affordable credit.
The five-year program was officially discussed during a meeting hosted by the Nandi County Government, where MSEA officials and representatives from DT Global outlined the program’s objectives and implementation strategy. The Jiinue Growth Program is set to revolutionize the business landscape for small enterprises by providing critical support tailored to the unique needs of entrepreneurs in various sectors.
Financial Literacy and Networking Opportunities
One of the program’s key components is enhancing the financial literacy of MSEs. Entrepreneurs will receive in-depth training on finance management, business modeling, and regular health checks on their financial books. This education is designed to empower business owners with the knowledge they need to manage their finances effectively and sustainably.
In addition to financial literacy, the program will facilitate networking opportunities for entrepreneurs, allowing them to connect with others in the SME industry. This networking is expected to foster valuable connections that could lead to new business opportunities and collaborations, further boosting the growth of small enterprises in the region.
Access to Affordable Credit
A standout feature of the Jiinue Growth Program is its provision of affordable credit to MSEs. Entrepreneurs with weekly sales of less than KES 20,000 will have access to individual funding ranging from KES 5,000 to KES 100,000 at an interest rate of just 9.5% per annum. For larger SMEs, the program offers funding options from KES 200,000 up to KES 14 million. This access to affordable financing is expected to be a game-changer for small businesses, enabling them to expand and scale their operations.
Key Partners and Stakeholders
The implementation of the Jiinue Growth Program involves collaboration with several key stakeholders, including 4G Capital, the Kenya Private Sector Alliance (KEPSA), the Kenya National Chamber of Commerce and Industry (KNCCI), Groots Business Fund, and Powered by People (PBP). Each of these partners will play a crucial role in ensuring the success of the program and the sustainability of the businesses it supports.
MSEA will take the lead in mobilizing MSEs across Nandi County, while DT Global will cover the costs associated with the training provided to entrepreneurs. This collaboration underscores a shared commitment to fostering economic growth and development within the county by empowering the backbone of the local economy—small businesses.
A New Era for Nandi County Entrepreneurs
The Jiinue Growth Program represents a significant step forward for Nandi County, providing youth and women entrepreneurs with the tools, resources, and support they need to thrive in today’s competitive business environment. By focusing on financial literacy, networking, and access to affordable credit, the program is poised to make a lasting impact on the lives of countless small business owners, helping to drive economic growth and development in the region for years to come.
As the program gets underway, MSEA and DT Global remain committed to ensuring that the benefits of this initiative reach the entrepreneurs who need them most, laying the foundation for a more prosperous future for Nandi County and beyond.
