Reason for SMEs to smile despite Covid-19

Two recent developments have given the country’s small and medium-sized businesses a reason to smile despite the gloom brought by Covid-19 pandemic.

The first is President Uhuru Kenyatta’s revelation that his administration has allocated Sh3 billion as initial seed capital for the SME credit guarantee scheme. Treasury has already sought parliamentary approval to roll out the scheme, after Treasury Cabinet Secretary Ukur Yatani reads out the budget estimates on June 11, 2020.