Small traders to access cheap loans of up to Sh500m from KDC

From left, KDC Director Norah Ratemo, KNCCI president Fred Ngatia and KDC Deputy-Director Kennedy Wanderi. [Wilberforce Okwiri, Standard]

Small and medium-sized enterprises will now access cheap long-term loans thanks to a deal between the Kenya Development Corporation (KDC) and the Kenya National Chamber of Commerce and Industry (KNCCI).

The deal, which was announced yesterday, formalises interactions between the two agencies and will see SMEs get loans of between Sh10 million and Sh500 million.