Kericho County government has signed an agreement with Stanbic Bank to provide financial assistance to Small and Medium Enterprises (SMEs) in order to help them grow their businesses, as well as to sponsor digital skills trainings within the devolved unit.
The two parties signed a memorandum of understanding (M0U) on Friday, during the opening of the Kericho Stanbic Bank branch.
Soon after the bank’s unveiling, Cabinet Secretary for Industrialization, Trade, and Enterprise Development Betty Maina praised the move, revealing that SMEs account for 98% of the country’s private sector.
According to CS Maina, the partnership agreement was critical in reinforcing the bank’s commitment to empowering SMEs in the region.
Kericho governor Professor Paul Chepkwony praised the bank’s role in assisting SMEs and encouraged local businesses to take advantage of the bank’s offerings to grow their businesses.
He stated that many businesses were still struggling to recover from the effects of the global pandemic, and that having digital skills was critical for survival.
The county boss stated that the county’s current peace and security have made Kericho a preferred investment destination in the region.