More than 100 entrepreneurs running Micro, Small and Medium Enterprises (MSMEs) have started training under a financial literacy programme by Diamond Trust Bank (DTB) that is supported by the Kenya Bankers Association (KBA).
The Financial Literacy Programme is meant to inculcate necessary skills required to run their businesses effectively to enable them take advantage of the finance opportunities offered by banks.
The training is conducted by trainers through the Kenya Bankers Association, which facilitates it under their Inuka Enterprise Programme, which has similar objectives for the MSME sector.
Speaking ahead of the start of the training, Diamond Trust Bank Group CEO Nasim Devji said the programme is an essential part of the bank’s business objectives.
“We hope that this training enables more micro and small entrepreneurs to organise their businesses in such a way that they can channel their skills more efficiently and position their ventures for growth,” said Ms Devji.
The CEO said that with most MSMEs being sole proprietorships, the training needs to be tailored to their needs as they are the drivers and most important decision-makers in their businesses across the country.
“These are individuals making all the decisions for their business and at the same time depending on them to raise their families and make investments to secure their future, and we find that even the most basic training about keeping business records goes a long way,” she added.
The training intends to build their capacity in financial and human resource management, strategic planning, marketing and communication to enable them do business better and especially attract the kind of finances they need to grow.
The traders will also receive training on the various financial products and services available to enable them grow their business.
The training is split into a seven-module curriculum which is delivered in three sessions in partnership with KBA.