Kenya Development Corporation (KDC) and Kenya National Chamber of Commerce and Industry (KNCCI) have entered a deal to help small and medium enterprises (SMEs) absorb the shocks of the Covid-19 pandemic.

They have agreed to provide financial support as well as relevant products and services to small businesses.

The partnership will see the over 3,000 KNCCI members access vital needs and financial solutions to boost their business even as the corporation gets customers to uptake and use its products.

Speaking during the signing ceremony, KDC director general Christopher Huka said the partnership will focus on scaling up financing for over 300 SMEs and startups countrywide.

“We are excited about this partnership as the SMEs and large enterprises will be able to access financial support and reach more entrepreneurs even as our financial boost and business advisory addresses the needs of Kenyan businesses,” he said.

Richard Ngatia, KNCCI president said the body is keen on working with KDC to provide financial support to its over 50,000 members directly and over two million SMEs indirectly.

“On top of providing financial support we are also going to offer trade facilitation by providing a certificate of products exportation as well as negotiate for bilateral trade between Kenya and other countries,” he said.