PS MSMEs Development hosts United Kingdom Deputy High Commissioner

The Principal Secretary for MSMEs Development Susan Mang’eni hosted the United Kingdom Deputy High Commissioner, Dr. Ed Barnett MBE accompanied by Dan Wilcox the Economic Counsellor and Head of Prosperity and Climate, as part of efforts to strengthen the UK-Kenya strategic partnership. The discussion centered on economic growth, with a particular focus on micro, small, and medium enterprises (MSMEs), which are vital to both economies. 

The UK government reaffirmed its commitment to supporting MSME growth through various programs, including financial initiatives such as the British International Investment's (BII) recent $100 million injection into Kenya Commercial Bank (KCB) to facilitate climate-focused and women-led enterprises.

The meeting also explored broader economic collaborations, including industrialization, agriculture, and trade facilitation, emphasizing on the need for a more coordinated approach to financing MSMEs, recognizing existing challenges such as credit accessibility and high-risk classifications. 

The PS discussed interventions that Kenyan Government has adopted financial interventions including the Hustler Fund, calling on more partnerships to bridge financing gap to the MSME sector that is currently at Kshs. 1.6 trillion. 

Additionally, the UK representatives expressed interest in Kenya’s economic transformation strategies, particularly the bottom-up economic transformation agenda. Highlighting the Sustainable Urban Economic Development Program (SUED) and other initiatives designed to boost investment, job creation, and sustainable growth across counties.

Both sides acknowledged the importance of aligning development efforts, ensuring that funding reaches the right beneficiaries, and fostering long-term economic stability. The engagement concluded with a shared commitment to ongoing collaboration and preparations for a renewed UK-Kenya strategic partnership agreement.