The Jua Kali industry players are set to access affordable credit for their businesses to revolutionise the sector.
This follows the signing of a Memorandum of Association(MOU) between the Kenya Commercial Bank (KCB) and the Kenya National Federation of Jua Kali Associations (KNFJKA) on a working framework within the sector.
KCB Bank Director of Digital Financial Services Angela Mwirigi said the time has come for the jua kali sector to receive a new lease of life by injecting much-needed market-driven competencies as a first step towards revolutionising the sector.
“The engagement we are unveiling today is a response to the urgent need for players within the Jua Kali sub-sector to tap into more formal entrepreneurial opportunities currently available with a goal to progress towards decent work for all,” Angela said.
Further, she indicated that the Kenya Commercial Bank and its foundation will work closely to ensure that the members of the jua kali are well-skilled to ensure they compete favourably on the global stage.
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Additionally, she observed that the jua kali sector is still coupled with an array of far-reaching challenges, such as a lack of market for their wares, even though it is a cardinal player in the country's economic growth.
On his part, KNFJKA Chief Executive Officer Richard Muteti lauded the partnership with KCB, calling on them to be steadfast in their endeavour.
“As sector players, we welcome KCB Bank and KCB Foundation on board as through their respective interventions, we shall get the capacity to focus and upscale our entrepreneurial endeavors,” Muteti said.
Jua kali is a Swahili connotation meaning immense knowledge on various crafts, including but not limited to woodcraft, metalworking, leather production, textiles, food processing, and mechanical engineering.
