During the meeting, the Mr Were emphasized the importance of aligning the sector with KNCCI’s national structure and county chapters. He noted that the Chamber provides a structured economic platform that is widely recognized by government, making it a strategic partner in advancing the interests of transport-based MSMEs.

The association proposed working with KNCCI to develop a National Grassroots Economic Scorecard that would capture economic realities at the county level and support an issue-based economic outlook reflecting the experiences of informal sector entrepreneurs.

KNCCI’s Head of Programmes, Daniel Biketi, highlighted the role of enterprise training in transforming the perception of operators from drivers to entrepreneurs. Through initiatives such as the Jiinue Programme, KNCCI can provide capacity-building and business training to tuk tuk operators and other actors within the ecosystem.

He noted that the training could also target indirect jobs created by the sector, including mechanics, spare parts dealers, and service providers, strengthening the overall mobility value chain.

Access to affordable finance emerged as one of the key challenges facing the sector. The association appealed to KNCCI to support members in securing financing to acquire and upgrade tuk tuk units.

In response, KNCCI indicated its willingness to facilitate access to financing through partnerships with financial institutions. The Chamber highlighted potential collaboration with African Guarantee Fund (AGF), which can provide guarantees of up to 70 percent of loans, particularly for tuk tuk operators involved in value chains such as dairy distribution.

Dr. Rutto encouraged the association to formally join KNCCI and integrate its members into the Chamber’s county chapters. He proposed the establishment of a joint technical working committee to develop a structured collaboration framework ahead of the signing of a Memorandum of Understanding (MoU) later in the month.

The KNCCI President also challenged the association to develop a strong business case for the local assembly of tuk tuk spare parts and knockdown units as part of Kenya’s industrialization strategy. Such an initiative, he noted, could stimulate local manufacturing and create thousands of jobs while strengthening the sector’s value chain.

The proposed partnership aligns with KNCCI’s six strategic pillars: Advocacy, Networking and Collaboration, Institutional Strengthening, Economic Diplomacy, Market Linkages, and Inclusivity.

Both parties expressed optimism that structured engagement between the Chamber and the tuk tuk sector will support enterprise formalization, improve access to finance, and unlock new economic opportunities for hundreds of thousands of transport entrepreneurs across the country.

According to data presented by the association, the tuk tuk sector is one of the most vibrant grassroots economic ecosystems in the country. The sector includes over 250,000 registered tuk tuks, 750,000 active drivers, and 250,000 owners and investors, supported by 850 to 1,100 SACCOs. Collectively, the network interacts with 5.5 to 6 million Kenyans daily.

The association estimates that the sector generates approximately KES 273 billion in annual household income, injects about KES 750 million into the economy daily, and supports KES 400–500 billion in total economic activity, representing an estimated 2.5–3 percent of Kenya’s GDP, with direct driver income alone contributing about 1.8 percent.

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In an evaluation meeting this morning Friday 27th June 2025, the two institutions reviewed the progress of their existing Memorandum of Understanding (MoU), which has already delivered significant impact. To date, over 48,000 SMEs—including those in agriculture, mining, and the extractive sectors—have received tailored training. In addition, Equity Bank has disbursed over KES 8.7 billion in financing to more than 8,500 KNCCI members, with a strong focus on youth- and women-led enterprises.

Beyond financial support, the partnership has facilitated trade missions to key regional markets, including the Democratic Republic of Congo, where Equity Bank’s presence has enabled KNCCI members to explore and secure new business opportunities.

Looking ahead, the two organizations announced plans to scale up their county outreach, with new training sessions scheduled for counties such as Isiolo and Uasin Gishu. The long-term goal is to reach all county chambers across the country.

As new sectoral opportunities emerge, particularly in the leather industry, Equity Bank has identified global market linkages and entered strategic partnerships, including with Italian investors. KNCCI has pledged its support through policy advocacy and market access facilitation, leveraging its strong networks with regional governments and embassies.

The KNCCI–Equity Bank collaboration continues to demonstrate the power of public-private partnerships in unlocking growth, innovation, and financial inclusion for Kenyan enterprises.

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Dr. Rutto identified three key barriers confronting MSMEs in Kenya:

1. Access to Capital
Access to finance remains the most persistent challenge. According to insights presented during the dialogue, only 26.3% of women-led MSMEs in Kenya are able to access formal financial services. Dr. Rutto emphasized that most MSMEs—especially youth- and women-owned businesses operate informally and are thus excluded from mainstream financial services due to lack of registration, proper documentation, and collateral. The product mismatch in loan structures such as high interest rates and inflexible repayment terms further disincentivizes borrowing and growth.

“We must rethink how our financial systems define risk and value, especially for small and youth-led enterprises. Collateral and cash flow should not be the sole indicators of creditworthiness,” noted Dr. Rutto.

2. Specialist Training for MSMEs
Dr. Rutto stressed the importance of targeted training to bridge the financial literacy gap. While the event underscored the role of financial education in enabling access to finance, it also revealed that many young women entrepreneurs lack access to practical, localized training tools that align with their business realities.

Participants of the event called for financial literacy initiatives that:

Use local languages,

Provide simplified loan navigation,

Address the dynamics of caregiving and informal work,

Move beyond knowledge to unlock real financing opportunities.

3. Market Access
Beyond capital and skills, market access was highlighted by Dr. Rutto as a major hurdle. Many young women-run MSMEs remain disconnected from scalable markets due to limited visibility, infrastructural gaps, and weak support ecosystems. This lack of access is even more pronounced in rural areas, where young women are disproportionately excluded from financial and economic participation due to poor infrastructure, seasonal cash flows, and limited outreach from formal institutions.

“For our MSMEs to thrive, we need holistic strategies that connect them not only to finance, but to reliable markets both domestic and international,” Dr. Rutto added.

A Call for Inclusive Solutions
Dr. Rutto concluded by affirming KNCCI’s commitment to working with stakeholders including financial institutions, development partners, and government agencies to co-create inclusive financial products, advocate for reduced compliance barriers, and promote the use of alternative credit assessment tools that value informal but viable enterprises.

The event also emphasized the intersectional barriers faced by vulnerable groups such as young women with disabilities, refugee entrepreneurs, and those from faith groups needing Sharia-compliant financial products—all areas requiring urgent attention for truly inclusive development.

About the Dialogue
The event brought together over 50 young women entrepreneurs, policymakers, and financial sector actors to discuss actionable solutions for improving access to dignified work and finance for young women in Kenya.

The post KNCCI Addresses Critical Barriers for MSMEs During the ‘Unlocking Finance for Young Women Entrepreneurs’ Dialogue appeared first on KNCCI.

Target Audience:
This session is specifically designed for professionals, decision-makers, and stakeholders in the finance sector, including banks, SACCOs, fintech firms, and financial service providers.

Agenda Highlights:
 Opening Remarks
 Unlocking Gen AI – Practical insights for financial innovation
 Demo: Qoonity by Qucoon – AI-driven business automation
 Agentic AI – Smarter operations with autonomous AI
 Demo: AI-Powered Banking (Rubies) – Intelligent, personalized finance
Why Attend?
Gain practical insights on Gen AI applications in finance
See live demos of cutting-edge AI solutions
Network with key decision-makers in Africa’s digital economy
�� Register Now: https://forms.gle/iBUEdsSXpSk1KZ4V9
We look forward to your active participation.

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The event which took place at Villa Rosa Kempinski Hotel offered both Kenyan and Qatari business representatives from the private sector exposure to potential opportunities aiming to increase their footprints in both countries.

The push for the flower exports to the Middle East was one of the proposals that officials put on the table during the forum. “We want to have direct flower auction to Doha, which is four hours from here,” said Ms Fatma Elmaavy, second vice president of the Kenya National Chamber of Commerce and Investment.

“We are honored at Qatar Development Bank to organize this initiative, and we are certain that it will be of great benefit for both Qatari and Kenyan businesses alike,” said Hamad Salem Mejegheer, Executive Director of Export Development and Promotion of Qatar Development Bank.

Pius Rotich, general manager of Kenya Investment Authority (KenInvest) stated that Kenya is prioritizing the industrial sector because of its huge transformative effect on the economy.

“Kenya has put in place a number of policy and tax incentives that will make it attractive for Qatari investors to set up manufacturing plants to produce goods for local and export markets,” Rotich said during the Qatar Development Bank-Kenya Matchmaking event.

The forum, organised by Qatar Development Bank led by its executive director for export development and promotion Hamad Salem Mejegheer, seeks to increase bilateral trade between the two counties currently estimated at Sh4.1 billion.

The day-long conference provided a platform for 20 Qatari companies to meet their Kenyan counterparts.

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The World Bank Group team met with among other critical stakeholders, the Kenya National Chamber of Commerce & Industry, SME Advisory Team under the Office of the President, the Central Bank of Kenya (CBK), the National Treasury, the Ministry of Industry, Trade and Co-operatives, the Micro and Small Enterprises Authority (MSEA) as well as, other key stakeholders operating in the MSME space and discussed the World Bank Group Mission for the Enhancing Access to Finance for the Micro Small and Medium Enterprises (MSMEs) analytical work in Kenya.

The objective of the mission is to share best practices with the Government of Kenya (GoK) on MSME development as they are developing their strategy and various, inter-agency interventions in this high priority area. The Mission Team shall present the findings of the global research on interventions to support MSME Development in the Country, explore areas where the World Bank could provide support to the GoK under the SME agenda, including the planned diagnostics and literature review under the above mentioned analytical work as well as other activities and operations.

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