County to train MSME operators on financial literacy
The County Government is set to sensitize small-scale traders on basic and business financial literacy in a move geared towards empowering them on how to wisely use finances, especially loans which are set to expand their business value chains and uplift their living standards.
This comes even as the County administration under the leadership of H.E. Governor Susan Kihika is readying itself for the implementation of the much-awaited Enterprise Fund.
Trade CECM Stephen Kuria said they have inked a deal with Strathmore university, adding that they are still willing to partner with other institutions to help them train the small-scale traders, most of whom are mama mbogas and bodabodas operators.
“The financial inductions to our local traders will position them to best utilize the finances accorded to them to diversify their business value chains,” said the CECM.
The County trade executive also encouraged the traders drawn from the markets and those operating the bodabodas to form groups and associations, a move he said will equip them with bargaining power, especially when applying for the loan facilities as a group to help boost their businesses.
The move is among entrepreneurial programs by the H.E Governor Susan Kihika who underscores the Fund will unlock the County’s potential and aspirations in the MSMEs sector.
The financial literacy training will best position the traders to positively embrace and reap from the Enterprise Fund once it is implemented.
The CECM was speaking during a benchmarking tour on the Enterprise Fund in Kiambu County to ascertain the impact of the fund on tens of thousands of small-scale traders in the County.
Kiambu County Executive Committee Member for Youth, Sports and Communication, Ali Osman Korar cited businesses which have received more than a million to put up businesses and some who got Sh200,000 among the many beneficiaries, saying it was the only way to empower traders and deliver them from poverty.