KCB Foundation and Elgeyo Marakwet County have signed a Sh30 million partnership deal that will see Small and Medium Enterprises (MSMES) access more affordable credit.
The deal seeks to create 2,000 jobs by enabling 500 youth with skills needed to create wealth faster via KCB’s enterprise development programmes - 2jiajiri and Mifugo ni Mali.
Through the 2jiajiri programme, the youth in Elgeyo Marakwet County will get affordable capital, as well as vocational and technical skills training and business development support.
Under Mifugo Ni Mali, livestock farmers in the county will be trained to tackle hurdles in productivity, nutrition and husbandry, and be financed to realise livestock value-chain interventions.
“I am delighted to welcome KCB Bank here because the journey we are about to embark on is such an exciting one,” Elgeyo Marakwet Governor Wisley Rotich said.
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He added, “As a result, our youth and SMEs will greatly benefit from this arrangement, with the long-term goal of elevating their respective proposition within their respective sectors.’’
Head of KCB Foundation Caroline Wanjeri is optimistic the partnership with the county will succeed borrowing from experiences from other similar engagements across the country.
“As KCB Foundation, we pride ourselves in our flagship programme – 2Jiajiri - which seeks to formalize the informal job sector to make it appealing to the youth and spur socio-economic development in society. We look forward to working with the leadership of Elgeyo Marakwet to make this partnership a reality,” stated Wanjeri.
KCB Foundation has so far partnered with 24 counties in skilling the youth and MSME development programmes and targets to reach 29 counties by the end of the initiative.