SMEs receive Sh4b under State-backed credit facility

Small enterprises accounted for 60 per cent of the beneficiaries followed by micro-enterprises (25 per cent). and medium enterprises (15 per cent). [iStockphoto]

The government has released more than Sh4.12 billion to micro, small and medium-sized enterprises (MSMEs) under the State-backed Credit Guarantee Scheme (CGS).

The National Treasury says by August this year, small businesses had taken a total of 2,609 loans amounting to Sh4.12 billion since the scheme was launched a year ago by former President Uhuru Kenyatta's regime in a plan to derisk access to credit for small traders.