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High up-front set-up costs and costs associated with running inefficient appliances are the primary barriers to growth for businesses in Africa.
The Kenya Development Corporation has unveiled financing programmes worth more than Sh18.5 billion and over Sh51.8 billion aimed at expanding access to long-term capital for businesses.
Kenya’s banking sector non-performing loan (NPL) ratio has been stubbornly high, hovering around 15.6 per cent.
Kenya’s micro, small, and medium enterprises are facing a deep financing squeeze that experts warn could slow job creation and economic expansion if left unresolved.
Kenya leads the region in mobile payment adoption, with 95% of SMEs accepting mobile money with owners pointing to simple, user-friendly payment methods.
Trade PS Juma Mukhwana says manufacturing remains one of the country's largest employers after the public sector and has the potential to absorb thousands of young people.
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