“We were reminded that numbers don’t lie. I am more motivated than ever to focus on getting our financial ratios in the right direction and increasing our revenue flows” Yolanda Odida, the CEO Pure Purple shares the reasons behind her motivation.
An intensive two-day Access to Finance Bootcamp took place in Nairobi on February 5th and 6th.
Twenty SMEs from Kenya's coffee and leather industries successfully completed the bootcamp, which was designed to equip SMEs with the knowledge and skills necessary to secure funding for growth, bringing together entrepreneurs and leading financial and legal experts.
Participants gained valuable insights into business strategy, financial management, legal frameworks and regulations for enterprises, and investor readiness.
The bootcamp programme covered a range of topics, including estimating the financial needs, financial statement analysis, budgeting and forecasting, and strategies for attracting investment.
Participants had the opportunity to exchange their experiences with their peers and learn from other export-ready companies.
The highlight of the event was the participation of prominent financial institutions such as ABSA (Kelvin Mwukiu), HRSV (Vera Wachira), and MCE Social Impact (Wairimu Miano). Representatives from these organizations provided tailored advice and guidance on accessing suitable financial products and services.
The bootcamp also provided the first opportunity for businesses to connect with financial experts.
The wide range of financing options provided to businesses helped them gain a deeper understanding of the available funding landscape and how to select the most suitable solutions for their unique needs and growth goals.
The Access to Finance Bootcamp is part of the European Union (EU) funded EU-East African Community (EAC) Market Access Upgrade Programme (MARKUP II) ongoing initiative to support the growth and development of SMEs in Kenya. It is implemented by the International Trade Centre (ITC) in collaboration with the EAC Secretariat and national partners in the recipient countries.
By equipping entrepreneurs with the essential tools and resources, the programme seeks to stimulate economic growth and create job opportunities.
"Thank you for the opportunity to acquire skills that will enable us to accelerate the growth of our business. This training will be invaluable in helping us assess the health of our business and make strategic adjustments where necessary." — Simon Gakinya, Director of Mount Kenya Specialty Tea & Coffee Co. Ltd.
