Cooperatives urged to apply for KJET project before June 30th deadline

Ministry of Co-operatives and Micro, Small and Medium Enterprises (MSMEs) has called on Cooperatives, Associations and other cluster-based entities to apply for Kenya Jobs and Economic Transformation (KJET) project before June 30th deadline.

The KJET project is 5-year Government of Kenya, (GoK) project funded by the World Bank (2024-2029) whose project development objective is ‘To increase private sector investments, access to markets and sustainable finance to create and improve jobs’.

The project targets to create jobs and improve productivity of select MSME clusters based on priority value chains envisioned under the Bottom-up Economic Transformation Agenda.

Selected clusters will benefit from tailored Business Development Services (BDS) training. In select cases, beneficiaries may also receive co-investment support to acquire productive assets that enhance their operations and market reach.

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The support is primarily in the form of co-investment, not a loan. However, selected beneficiaries will enter into contracts outlining mutual commitments, including potential profit-sharing or phased buy-out options.

Co-investment means that both the project and the MSME cluster are jointly contributing toward acquiring productive assets. The cluster contributes 30%, and the project invests the remaining 70%.

While the focus is on Dairy, Textiles, Edible Oils, and Construction, high-potential groups outside these sectors may be considered in exceptional cases. Interested individuals can visit nearest Micro and Small Enterprises Authority (MSEA) county office for assistance.

By Obegi Malack

obegimalack@gmail.com

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