NAIROBI, Kenya – Micro, Small and Medium Enterprises (MSMEs) can now get access to financing from the Githunguri Dairy Co-operative (GDC) under a programme sponsored by the Kenya Development Corporation (KDC) and the World Bank.
Dubbed Supporting Access to Finance for Economic Recovery (SAFER), the programme aims to unlock credit, foster innovation, and build resilience among MSMEs.
Through SAFER, KDC disbursed KSh 500 million to Githunguri Dairy Co-operative, as part of its commitment to extend lending to the MSME sector.
Presiding over the cheque presentation on Tuesday, November 18, Trade and Investment Cabinet Secretary (CS) Lee Kinyanjui said the government, through KDC, is exploring ways to extend the lending period from the current 7 years to 10 years and reduce the interest rate from 9% to 8%.
“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.
“The objective is to make long-term credit more accessible to investors and institutions, particularly those involved in capital-intensive industrial projects,” said CS Kinyanjui.
The PS, State Department for Investment Promotion, Mr. Abubakar Hassan Abubakar, noted that the SAFER Programme demonstrates the government’s 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,” said Abubakar.
World Bank, Financial Sector Specialist, Leah Kiwara, said the 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,” said Kiwara.
KDC Director General, Ms Norah Ratemo, revealed that the corporation 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,” she stated.
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.
The Sacco demonstrates strong governance, financial stability, and sectoral impact. Through the Bonyeza Digital Loan product, the cooperative has transformed lives, offering fast, affordable, and accessible financing for MSMEs, enabling farmers to access the facility easily on their mobile phones.
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.
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