Jijenge Welcomes Public Participation
The Public Participation on the Draft Credit Guarantee and Amendment to the CBK Act at the Bomas of Kenya, Nairobi.
Spearheaded by the Ministry of National Treasury and Economic Planning, the policy shift is a shot in the arm for MSMEs in the country. In summary, it seems to give the Central Bank an expanded mandate and majorly oversee Credit Guarantee companies.
The key points include oversight by the Central Bank, prudential treatment, public reporting, and government support for MSMEs. Leading Credit only Microfinance CEO Peter Macharia Kamau had this to say” This is a great initiative that will help boost the MSMEs segment which main stream banks always shy away from lending to siting high risk. It will definitely bridge the unemployment gap and increase the tax collections due to increased trade due to the increased funding after the guarantee comes into effect. I fully support this.
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