On 18th, the Cabinet Secretary for Investments, Trade and Industry (MITI), Hon. Lee Kinyanjui presented a cheque worth Ksh 500 million to Githunguri Dairy Cooperative Society (GDC). This is a disbursement by Kenya Development Corporation (KDC) under the World Bank’s Supporting Access to Finance for Economic Recovery (SAFER) Programme. The SAFER Programme is designed to unlock credit, foster innovation, and build resilience among MSMEs
MITI CS Hon Kinyanjui said, “I wish to congratulate GDC for its strong track record in professional management and sound governance. The cooperative is a model worth emulating, and I am pleased to note its expansion to both Nairobi and Nakuru counties.
Through the KDC, we are exploring ways to extend the lending period from the current 7 years to 10 years and reduce the interest rate from 9% to 8%. The objective is to make long-term credit more accessible to investors and institutions, particularly those involved in capital-intensive industrial projects.”
The PS, State Department for Investment Promotion,” Mr. Abubakar Hassan Abubakar stated that “The SAFER Programme demonstrates Governments commitment to de-risking MSME financing and advancing the Bottom-Up Economic Transformation Agenda. We are empowering farmers and small enterprises to drive inclusive and economic growth.
World Bank, Financial Sector Specialist Ms. Leah Kiwara, “Todays partnership is a clear demonstration towards closing the financing gap that continues to meet the growth of MSMEs across the country. As we move forward, monitoring impact and highlighting success stories is critical to drive meaningful and sustainable MSME growth.”
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Speaking during the event, the Director General, Ms Norah Ratemo stated that, “KDC has disbursed Ksh 3.2 billion to 11 SACCOs for onward lending, supporting 36,990 MSMEs, including 12,221 women-owned enterprises, and creating 25,637 jobs across 32 counties. A further Ksh 3.9 billion has been earmarked for onboarding 13 additional SACCOs under the programme’s digital lending window, deepening outreach and strengthening Kenya’s financial inclusion landscape.”
“Githunguri Dairy Cooperative Society, is one of Kenya’s most dynamic and fast-growing cooperatives and has expanded its membership in nine branches across Nairobi and Nakuru counties demonstrating strong governance, financial stability, and sectoral impact. The Bonyeza Digital Loan product has emerged as a transformative tool offering fast, affordable, and accessible financing for MSMEs, enabling farmers to access the facility easily on their mobile phones,” said Mr. Charles Kioko.
About Kenya Development Corporation (KDC)
Kenya Development Corporation (KDC) is a state Corporation under the Ministry of Investments, Trade and Industry (MITI), established in 2020.
KDC’s mandate is to promote sustainable economic development by providing development finance, appropriate infrastructure, business support and advisory services to medium and large scale industries and commercial undertakings in target sectors in Kenya and elsewhere.
