MESPT give small businesses Ksh2bn to boost productivity
(MESPT) has entered into an agreement with the Kenya Association of Manufactures (KAM) to support small businesses mainly the agri-business sector.
Small and medium businesses are set to receive a sh2 billion loan to improve their productivity.
The Micro Enterprises Support Programme Trust (MESPT) has entered into an agreement with the Kenya Association of Manufactures (KAM) to support small businesses mainly the agri-business sector.
The funds will be spread over the next five years to enhance the manufacturing value chain of the small and medium enterprises under the business sector programme.
“We have signed a deal with the Kenya Association of Manufacturers to ensure the funds benefit processors especially in agri-business”, says MESPT chief executive Jeff Karingo. He said the trust had received funding from the Danish Government, which would be distributed through its partner intermediaries.
The funds will also be used to build capacity for financial service providers including micro-finance institutions, savings and credit and community-based organizations. The funding targets all sectors although agriculture takes the lion’s share of the funds.
“Our rates are very competitive at eight to 12 per cent for agriculture businesses and 10 to 12 per cent for business loans”, Karingo says. The arrangement applies the micro-finance lending model of groups loans, which had boosted repayment rate that now stands at 97 per cent, Karingo added.
MESPT has also received Sh400 million from the European Union which has been used to reduce post harvest losses in horticulture and fisheries sectors. The funds have also been used to build capacities of rural financial intermediaries and to support the leather and handicrafts sectors.
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how can i get the loan and what are the terms
how does one get to inquire about your loans
How much can an individual borrow or what is the limit per person and what are the payment plans. Thanks, Ivia
how do I get ur loans
I would appreciate it if you would explain the modality of accessing/acquiring the said MESPT loans.
How do you go about applying and aquiring of these so called loans?
This is a very positive move and will go along way in assisting small scale farmers who despite their potential they are unable to realise full potential lack of affordable credit services.
This is great news. At least 50% of the 2bn will have a great impact in the agricultural sector. However, the challenge is how MESPT will reach the target firms/MSMEs with the greatest potential for a multiplier effect in the sector.
Hallo. It has come to my attention that your good firm has received funds to improve the lives of many people across thus my concern is that do the CBO from Nyanza province but to be precise Migori County (Uriri District) what we need to do to get a share of funds. Can individual also apply.