The MoU was signed by Chamber President Mr. Richard Ngatia and Mr. Bernd Lakemeier – Head of Cluster, Sustainable Economic Development and Youth Employment at GIZ. On the part of KNCCI, the signing was witnessed by Chamber Vice President Dr. Erick Ruto, Company Secretary Counsel Kihara Njuguna, CEO Mr. Samuel Matonda and COO Mr. Patrick Nyangweso. On the part of GIZ, the signing was witnessed by Ms Irene Omogi – Component Head, Programme for Promotion of Self Employment and Entrepreneurship.
GIZ is a German International Organization renowned for international development, economic empowerment and poverty eradication among others.
The partnership between KNCCI and GIZ is highly strategic and is expected to elevate MSMEs to leverage on a market system development and linkages to recover and stride forward to sustainability.
This partnership brings the following interventions:
1. MSMEs support through effective business development services (BDS) including coaching, mentorship, and technical assistance to navigate through the COVID-19 pandemic.
2. Facilitating market system and development linkages among the local MSMEs for sustained demand for goods and services.
3. Facilitating liquidity and cash-flow support by enabling MSMEs access to suitable financial products and services through various financial instruments.
– This cooperation will give young people employment prospects through the support of MSMEs, promotion of entrepreneurship and provision of practice-oriented training and job matching services.
– Opportunities for access to finance will equally enable startups to scale up their operations into profitability. Business advisory and mentorship will be instrumental in ensuring that MSMEs are appropriately guided and informed on the required business processes and compliance procedures.
– A detailed workplan will follow to ensure full implementation of the MoU and focusing on the priority areas of cooperation.