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Government launches drive fund to support MSMEs in 21 counties

Government launches drive fund to support MSMEs in 21 counties

The government has unveiled a new funding initiative to provide loans and grants to Micro, Small, and Medium Enterprises (MSMEs) in 21 counties.

The Kenya Development Corporation Limited (KDC), in collaboration with the World Bank Group, will oversee the program, known as the De-risking, Inclusion, and Value Enhancement for Pastoral Communities (DRIVE) Fund.

In a statement on February 4, KDC announced that it is seeking partnerships with regulated financial institutions to support viable MSMEs through the DRIVE Fund.

The initiative aims to boost sustainable development in the livestock sector and enhance financial inclusion for pastoral communities across targeted Arid and Semi-Arid (ASAL) counties.

The counties set to benefit include Turkana, Marsabit, Mandera, Wajir, Garissa, Tana River, Isiolo, Samburu, Meru, Tharaka Nithi, Baringo, West Pokot, Narok, Laikipia, Kajiado, Makueni, Kitui, Lamu, Taita Taveta, Kilifi, and Kwale.

KDC has invited financial institutions, including SACCOs regulated by the SACCO Societies Regulatory Authority, microfinance banks under the Central Bank of Kenya, and commercial banks lending to MSMEs in the livestock value chain, to apply for the DRIVE Fund.

The corporation clarified that loan applications will be processed exclusively online, with no hard copies accepted. The application window opened on February 4, 2025, and will close at midnight on March 4, 2025.

“Join us in shaping a resilient and inclusive future for Kenya’s pastoral communities,” KDC said in the notice.

 

Andrew Walyaula
Author: Andrew Walyaula

Andrew Walyaula is a seasoned multimedia journalist. waliaulaandrew0@gmail.com

Andrew Walyaula

About Author

Andrew Walyaula is a seasoned multimedia journalist. waliaulaandrew0@gmail.com

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