The Capital Market Authority (CMA) entered into a deal with the Kenya Development Corporation (KDC) in a bid ease the accessibility of financial services to Small Medium Enterprises (SME) in Kenya.
The deal will see a spured growth among SMEs which have been experienced difficulty in accessing financial services.
“CMA is committed to working with KDC more closely than ever before to maintain the momentum in priority spelt out in our partnership which includes promoting SMEs and large enterprises utilizing of capital market security, pursuing education awareness and stakeholder engagement to promote an increase in knowledge and uptake of respective institutions’ products and services,” said CMA’s Chief Executive Wyckliffe Shamiah.
The partnership establishes a joint efforts in education, awareness creation, and stakeholder engagements which will be executed to improve knowledge levels and uptake of financial products and services.
KDC’s Director General Christopher Huka welcomed the deal saying it was essential in the current globalization era, to spur the country’s economic growth.
“Access to finance is one of the biggest barriers preventing SMEs from starting, sustaining, and growing their businesses. This partnership provides an opportunity for SMEs to access affordable financial services and products tailored to meet their needs, “Christopher Huka.
Both parties will see, through the deal, a promotion of the utilisation of financial products and services by SMEs together with larger enterprices in the country for financial investment prospects and business advisory services which will be offered.