Nakuru County Government has signed a memorandum of understanding (MoU) with Kenya Commercial Bank (KBC) to offer training and affordable financing to more than 2,000 small and medium enterprises (SMEs). Under the deal, credit facilities will be extended at a 12.5% interest rate per annum, out of which 5% will be covered by the Cooperative Revolving Fund of the County Government. Furthermore, SME owners will be imparted skills in online marketing, business registration, record keeping, quality and productivity management, and legal issues, among others. They will also be given the training to maintain books of accounts and file tax returns.
