NAIROBI, Kenya- A group of 39 Kenyan enterprises is now better equipped to grow their businesses and increase revenue, following the completion of a year-long training program sponsored by the Italian Government through the E4Impact Entrepreneurship Centre in Nairobi.
The Sh107.3 million initiative provided small and medium-sized enterprises (SMEs) with the tools they need to not only thrive in local markets but also break into European markets.
For many SMEs in Kenya, accessing funding and markets has been a persistent challenge.
The E4Impact program, designed to address these hurdles, supported 29 SMEs through an accelerator program while incubating 10 tech startups to help them scale.
According to E4Impact Regional Director David Cheboryot, some participants are already seeing results, with several agribusiness ventures now securing local retail partners and expanding to European markets.
The program’s holistic approach didn’t stop at market access; it also focused on enhancing participants’ knowledge of value addition, which has been crucial for businesses in sectors like agribusiness to remain competitive.
Cheboryot emphasized the significance of this, stating, “The training has enabled businesses to not only meet local demand but also compete internationally.”
The year-long training went beyond just market access. Business owners received specialized coaching in financial accounting, marketing strategies, and investor pitch development.
This comprehensive training has allowed many participants to secure additional funding and grow their operations.
A major highlight of the program was the focus on creating sustainable business models that can scale beyond Kenyan borders.
Cheboryot remarked that the 2024 cohort is expected to achieve even greater international market penetration and increase overall turnover.
The E4Impact Entrepreneurship Centre is supported by a Ksh 107.3 million grant from the Italian Agency for Development Corporation (AICS), part of Italy’s broader commitment to supporting economic development in Kenya.
The Italian Government’s involvement in Kenya doesn’t end with this entrepreneurship program.
In fact, Italy is currently supporting a range of projects in the country, with investments totaling Ksh 22.9 billion. This funding is helping foster development in various sectors, reinforcing Italy’s commitment to Kenya’s growth.
Programs like E4Impact are pivotal in helping SMEs overcome common barriers to growth, and with ongoing international support, Kenyan businesses are poised to expand their global footprint.
