Femme StaffThe State Department for Industry, Ministry of Investments, Trade, and Industry, has today announced issuance of financial grants to 23 SMEs from Cohort 1 of the Kenya Industrialisation and Enterprise Project (KIEP) 250+. The SMEs are drawn from diverse sectors across the country.
Launched in November 2020, KIEP 250+ has played a pivotal role in fostering the growth of Small and Medium Enterprises (SMEs) in Kenya. Cohort 1 SMEs have undergone thorough diagnosis processes to identify gaps and areas for business improvement. The grants awarded, averaging USD 50,000 per SME, are aimed at enhancing innovation, technology adoption, productivity, and international competitiveness.
Speaking during the grant contract signing ceremony, Dr. Juma Mukhwana, Principal Secretary, State Department for Industry emphasised the government’s unwavering commitment to supporting SME growth, stating that, “This event is a testament to the government’s dedication to the prosperity of our SMEs, which are integral to the economic growth of our nation. The grants provided today mark a substantial step towards empowering businesses with the tools they need to grow and thrive in the competitive international market.”
The project places special emphasis on gender inclusivity, with a mandate to support at least 24% women-led enterprises. Women entrepreneurs are well-represented among the recipients of the Cohort 1 grants, reinforcing the commitment to fostering diversity and equality in economic opportunities.
Aligned with the government’s Vision 2030 and Medium-Term plans, KIEP 250+ prioritizes SMEs in key areas of the Bottom-Up Economic Transformation Agenda, including Manufacturing, Agriculture, Housing and Settlement, Healthcare, Digital Superhighway, and Creative Economy. Dr. Mukhwana states, “KIEP 250+ aims to stimulate private sector growth, resulting in employment generation, export expansion, and increased competitiveness and productivity.”
The project aims to support 250+ SMEs from across the country, providing essential technical assistance to facilitate business improvement and growth. In continuation of this initiative, KIEP 250+ has recently opened a new call for applications, encouraging eligible businesses to apply and benefit from this transformative program.
Dr Mukwana reaffirmed the government’s commitment to supporting businesses in their journey towards growth, innovation, and enhanced competitiveness.
To register and take advantage of this incredible opportunity, eligible SMEs can visit: https://250plus.kiep.go.ke
