PS Mang’eni urges rethinking of MSME financing as Sidian Bank inks deal with Kenya Industrial Estates

State Department for MSMEs Principal Secretary Susan Mangeni has called for partnerships that can help businesses navigate these risks through affordable, personalised financing models, well-structured credit, and the capacity to build more resilient enterprises.

Speaking during the signing of a Memorandum of Understanding (MOU) between Sidian Bank and Kenya Industrial Estates (KIE), Mang’eni underscored the need to rethink how finance and credit are designed and delivered to MSMEs.

‘’Kenya's MSMEs have a financing demand of Ksh. 4 trillion, and this partnership will be part of the interventions aimed at availing timely and affordable credit to MSMEs,’’ Susan Mang’eni stated.

The MoU will see the introduction of a government catalytic fund for innovative personalised financial solutions, inclusive credit and business development support for Micro, Small and Medium Enterprises (MSMEs) across Kenya.

PS Mang'eni said if KIE strengthens credit inclusion and ensures businesses have access to appropriate financing, they will grow and in turn drive broader economic development. 

“Our role is not simply to provide financing. It is to understand the businesses we serve and develop financial solutions that respond to their needs, their stage of growth and the changing market environment,’’ Sidian Bank Managing Director and CEO, John Okulo said. 

Kenya Industrial Estates Managing Director, Nelson Kwamini, said the partnership reflects the importance of bringing together financial and non-financial support to address the different stages of MSMEs’ growth journey. 

“Our collaboration with Sidian Bank will enable us to strengthen the support we provide to MSMEs by combining access to finance with capacity building, training and business development,” said Kwamini.

He concluded and said the partnership between Sidian Bank and Kenya Industrial Estates is designed to support MSMEs beyond initial financing.