CBK set to release a loan tool directly for SMEs - Industrialization PS Francis Owino

President Uhuru Kenyatta with Industrialization Principal Secretary Francis Owino. PHOTO | NMG

SME to receive a boost from the government after CBK plan to release a loan facility for them. The Treasury is set to relieve frustration SMEs undergo in commercial Banks seeking for loans.

Industrialization Principal Secretary Francis Owino says plans are underway for the launch of a loan tool targeting small business owners in the country.

Owino said the new service, which will be launched by the National Treasury, is expected to allow SMEs to access more capital and address the challenges they face when starting their businesses.

“One of the critical challenges of the SME’s sector is access to funds and some demands that equally have to be met and these are individual businesses,” said Owino.

" The guidelines to support the project will be released next week where public input is said to be a top priority, " he said.

“We already have the draft regulation to operationalize this fund which will be subjected to public participation throughout the country as from Monday 27 and see how the SME’s will access the fund without,” he added.