Stanbic Kenya Foundation (SKF) recently partnered with the US African Development Foundation (USADF) to provide grants to MSMEs, cooperatives, and producer groups in Kenya. The Fund will also provide MSMEs, cooperatives and producer groups with an opportunity to gain access to affordable finance and markets and expose them to the use of digital technologies.

USADF and SKF will provide a combined total of Ksh. 1.08 billion ($10 million) in funding towards this initiative targeting 100% Kenyan-owned, managed and legally registered MSMEs in Kenya. Applicants should apply for funding HERE.

Interested applicants for the grant must be Kenyan-owned, led, and registered MSMEs, cooperatives and producer groups operating in Kenya. They should also be in the manufacturing, agriculture and agribusiness, health, trade, or services sectors.

Speaking on the partnership, Head of the Stanbic Kenya Foundation, Pauline Mbayah noted that, “The Foundation’s Financial inclusion; Job creation and Enterprise development pillars aim to catalyze the Micro, Small, and Medium entrepreneurs, cooperatives and producer groups access to alternative sources of capital which will include grant funding, affordable funding, training, and mentorship. This partnership agreement speaks to our dedication and commitment to empowering Kenyan-owned businesses right from the grassroots and see them scale to higher levels.”

MSMEs in Kenya have been described as the drivers of the Kenyan economy and employ close to 14.9 million people. This makes up to 78% of Kenya’s entire labour force and contribute approximately 40% of the GDP.

USADF Acting President and CEO Elisabeth Feleke stated, “With the joint support of the Stanbic Kenya Foundation and USADF, Kenyan MSMEs have the opportunity to be more productive, profitable, and globally competitive, enabling them to create employment opportunities, income-generating activities, and prosperity for communities across the country.”