By Aoma Keziah,
The Ministry of Investments, Trade and Industry (MITI), in collaboration with the World Bank, hosted the official closure event for the KIEP 250+ Project at the Kenya School of Monetary Studies, marking the successful culmination of a key initiative under the Kenya Industry and Entrepreneurship Project (KIEP).
In his remarks, Director of Industries Roy Nyangena, who represented the Principal Secretary for Industry, Dr. Juma Mukhwana, highlighted that despite this project implementation facing serious implementation challenges Covid-19, stoppage of project activities, budget reviews and reductions, it has registered impressive success stories from the various components.
“Under this component, out of the 150 SMEs targeted for phase one, 142 SMEs signed grant performance based grant contracts with the Ministry, with grants totaling to over Kshs 800 million. 112 SMEs have finalized implementation of interventions agreed upon in the contracts and have submitted reimbursement claims. So far, the Ministry has disbursed over KShs500 million to the SMEs who have expanded their production/service levels, automated and modernized operation systems, created more employment opportunities, created new products and services, and expanded into new markets among others,” he stated.
Launched as a component of KIEP and funded by the World Bank, KIEP 250+ has over the past few years focused on enhancing the productivity and innovation capabilities of over 250 high-potential SMEs across various sectors. The program was implemented under the stewardship of MITI, with NIRAS and Intellecap serving as fund managers.
Mr. Sameer Goyal, KIEP Task Team Leader and representative from the World Bank Group, highlighted the project’s alignment with Kenya’s industrialization goals, noting that SME development is a cornerstone of inclusive economic growth.
“The impact of KIEP is visible in the strengthened innovation hubs, in the hundreds of firms that benefited from capacity building and technology upgrading, and in the entrepreneurs whose ideas have now become viable, job-creating businesses. But more than that, KIEP has helped build a stronger ecosystem where public and private actors work more cohesively, where institutions are better prepared to support startups and scale-ups, and where young innovators see a clearer path to success,” he stated.
The event brought together government officials, private sector stakeholders, entrepreneurs, and development partners to reflect on the impact of KIEP 250+, a groundbreaking program aimed at boosting the capacity and competitiveness of Kenya’s small and medium enterprises (SMEs).
“KIEP has been more than just a project. It has been a story of collaboration, resilience, and innovation a bridge between ambition and achievement. At NIRAS, we are immensely proud to have been part of this transformational journey, working closely with our partners, especially the Ministry of Investments, Trade and Industry, and the World Bank, to support Kenyan entrepreneurs and industry players in unlocking their full potential,” remarked NIRAS Africa Head ,Florence Gatome
With the program now concluded, they all together emphasized that lessons learned from KIEP 250+ will shape future policies and initiatives aimed at supporting the SME sector, with a new beginning for the country’s entrepreneurial ecosystem.
