Role of Financial Institutions and the Central Bank in Kenya
Question 1: Briefly explain role of the following Financial Institutions in the economic development of Kenya: a) Kenya Industrial Estates: Kenya Industrial Estates (KIE) Limited was established in 1967 as a subsidiary of Industrial and Commercial Development Corporation (ICDC) with a major role of promoting indigenous entrepreneurship by financing and developing small scale and micro enterprises.
KIE Limited was established to facilitate development and incubation of micro, small and medium enterprises (MSMEs) countrywide by establishing industrial parks, providing credit and business development services (BDS) in a sustainable manner. The services offered by KIE include; * Development of Industrial Estates and Provision of MSMI Incubation Services
Kenya Industrial Estates LTD provides serviced workspace through construction of industrial estates/incubators in fast growing business centres. These facilities provide entrepreneurs with specific services to nurture and encourage growth of their enterprises to sustainable levels. Apart from flexible and affordable workspace, the enterprises within the incubators are able to access financial support for machinery, equipment and working capital, shared utility services, management and technical assistance including skills upgrading, marketing, accounting, legal, secretarial services and internet and networking.
New industrial estates are being developed in fast growing urban centres and Special Economic Zones as identified in the Vision 2030 * Financial Support Services
Credit Facilities: KIE provides affordable medium to long-term finance to MSMIs for the purchase of machinery, equipment and working capital, either for start-ups, expansion, modernization or rehabilitation focusing on priority sectors identified in Vision 2030.
Special Credit Facilities for Marginalized Areas: This product is availed in marginalized areas with favourable terms and conditions.
Top up Loan Facilities: This is a product
KIE Limited was established to facilitate development and incubation of micro, small and medium enterprises (MSMEs) countrywide by establishing industrial parks, providing credit and business development services (BDS) in a sustainable manner. The services offered by KIE include; * Development of Industrial Estates and Provision of MSMI Incubation Services
Kenya Industrial Estates LTD provides serviced workspace through construction of industrial estates/incubators in fast growing business centres. These facilities provide entrepreneurs with specific services to nurture and encourage growth of their enterprises to sustainable levels. Apart from flexible and affordable workspace, the enterprises within the incubators are able to access financial support for machinery, equipment and working capital, shared utility services, management and technical assistance including skills upgrading, marketing, accounting, legal, secretarial services and internet and networking.
New industrial estates are being developed in fast growing urban centres and Special Economic Zones as identified in the Vision 2030 * Financial Support Services
Credit Facilities: KIE provides affordable medium to long-term finance to MSMIs for the purchase of machinery, equipment and working capital, either for start-ups, expansion, modernization or rehabilitation focusing on priority sectors identified in Vision 2030.
Special Credit Facilities for Marginalized Areas: This product is availed in marginalized areas with favourable terms and conditions.
Top up Loan Facilities: This is a product