Kericho: The Micro and Small Enterprises Authority (MSEA) has urged Kericho residents to form and formalise business groups to take advantage of government programmes, including the upcoming Kenya Jobs and Economic Transformation (KJET) project.
According to Kenya News Agency, the KJET project, funded by the World Bank, is a five-year initiative set to run from 2024 to 2029. It aims to boost private sector investments, enhance market access, and provide sustainable finance to improve and create jobs. During a sensitisation forum in Momul village, Belgut Sub County, Acting Senior Enterprise Development Officer Michelle Aburilli emphasized the project's focus on enhancing productivity of select MSME clusters aligned with the Bottom-Up Economic Transformation Agenda.
Aburilli highlighted that the KJET project does not discriminate based on age and will finance group projects, particularly those involved in value addition activities such as tea processing or packaging. The project will assess suitable machines for these purposes and MSEA will propose financing options. Aburilli stated that these priority value chains would not only generate local revenue but also increase international earnings.
The project aims to strengthen the competitiveness and market access of MSMEs by providing generalised and Value Chain Specific Business Development Services, as well as co-investments in viable MSME clusters. Implemented by MSEA, the KJET project will focus on Business Development Services (BDS) and Investment Support for Micro, Small, and Medium Enterprises (MSMEs) across the 47 Counties to boost productivity, efficiency, and job creation.
The programme prioritises specific value chains under the Bottom-Up Economic Transformation Agenda due to their high potential for employment generation and market demand. These include Edible Oils, Building Materials, Textiles, Tea, Coffee, Dairy, Leather, Blue Economy, and Minerals.
Aburilli assured that MSMEs would receive free training, capacity building, and investment support, especially for acquiring machinery to enhance operational efficiency. Further details on application procedures and eligibility criteria will be announced on the official MSEA website.
Assistant Chief of Chemamul Sub-location, Janet Keter, reinforced the message, urging locals to formalise their business groups to fully benefit from these government initiatives. Keter stated that registering as a group would provide access to training on value addition to farm products, leading to better investment returns.