KNCCI, Mombasa County Signs A Co-operation MOU with the Gulf African Bank
SMEs are engines of growth, vital to most economies globally and importantly in the Sub Saharan Africa. Research suggests that micro businesses and SMEs account for 95% of firms in most countries. They create jobs, contribute to GDP, aid industrial development, satisfy local demand for services, innovate and support large firms with inputs and services. In Africa, SMEs create 80% of employment, establishing a new middle class and stimulating demand for new goods and services. In Asia, the regional and global economic slowdown has raised the need for a new growth model, strengthening business and economic opportunities for SMEs to boost national productivity and social welfare. With this in mind, KNCCI Mombasa and Gulf Africa Bank have found it important to enter into a mutual agreement that will be geared toward supporting SME’s upscale their operations In Mombasa County.
