Kenyan SMEs stifled by lack of financing

Kenya's First Lady Margaret Kenyatta admires a sample of the exhibited products at the official opening of the Regional Family Conference in May 2018 at KICC, Nairobi. PHOTO | PSCU

Kenya’s small and medium-sized enterprises (SMEs) are facing difficulty in developing new products and financing existing customer orders to due to lack of finance, a new survey shows.

The survey by Kenya-based consultancy, Viffa Consult Ltd, shows that SMEs have a hard task of marketing their business and paying utilities such as electricity and water. This has been blamed for their stifled growth prospects.