The implementation of the Business Stimulus Program is set to become a reality in Nairobi City County as the Micro Small and Medium Enterprises (MSMEs) department held a crucial meeting with two key strategic partners; the Kenya Commercial Bank (KCB), serving as the financial partner, and the Institute of Certified SIYB Trainers (ICST), which will provide capacity building support.
Dr. Anastasia Nyalita, Nairobi County Executive for Business and Hustlers Opportunities said the much-anticipated Business Stimulus Program will offer a platform for Nairobi business owners to unlock their economic potential.
“The partner meeting brought together influential stakeholders to chart the path forward for the program and to fast track the signing of the contracts which will facilitate the program implementation” said Nyalita
“The Terms of Reference (TORs) for each partner to ensure clarity in roles and responsibilities have already been laid out as well as roles and responsibilities for all program partners involved; Nairobi City County, KCB, and ICST. These critical partners will converge to develop a unified work plan for the program’s rollout, implementation, monitorin, and evaluation.” added Julius Karina, Director, MSMEs.
Dr. Nyalita emphasized that the Stimulus Program is firmly embedded in Governor Sakaja’s manifesto, which prioritizes opportunity provision for all.
“The initiative reflects our commitment to supporting MSMEs in Nairobi. By partnering with esteemed institutions like KCB and ICST, we aim to create sustainable opportunities and an enabling environment for businesses to thrive, especially in light of the economic challenges impacting many entrepreneurs. This program will transform the county’s economic landscape and provide a platform for our youth and women to earn a decent living,” she said
She noted that Governor Sakaja envisions implementing disbursements of affordable credit through a ward-based program, ensuring equitable benefits across all wards, with a provision of Ksh 50 million per ward to support and empower local businesses.
Present at the session were Ms. Eunice Kariuki, Director of the Governance Delivery Unit (GDU); Collins Sikah, Assistant Director of MSMEs; Victor Ogondo, Assistant Director of Donor Coordination and Engagement; committee members; MSMEs officers; and representatives from the strategic partners KCB and ICST.
