KIE, Sidian Bank sign MOU to enhance access to commercial finance for MSMEs
Kenya Industrial Estates (KIE) and Sidian Bank have partnered to improve access to commercial financing for manufacturing and value-addition enterprises in a move expected to create a clearer transition for businesses graduating from development support to conventional banking. The two institutions signed a Memorandum of Understanding (MoU) on Thursday, formalizing a framework developed through a…
Kenya Industrial Estates (KIE) and Sidian Bank have collaborated to enhance access to commercial financing for manufacturing and value-addition enterprises. The Memorandum of Understanding (MoU) signed between the two institutions aims to facilitate a smoother transition for businesses moving from development support to conventional banking.
KIE will identify and prepare suitable enterprises, while Sidian Bank will assess eligible businesses for appropriate financial services. The partnership will provide access to a range of commercial banking products, such as working capital, asset and trade finance, digital payment solutions, and other services. KIE Managing Director Nelson M. Kwamini emphasized the arrangement's aim to address the financing gap faced by enterprises that have outgrown early-stage development and require more sophisticated financial products.
Written by urgent.news from KBC's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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