Kenyan business owners can expect to partake of the World Bank’s Sh7.7bn ($50 million) funding

Small and medium-sized Kenyan business with optimistic prospects could potentially receive aid from the World Bank. Via a program initiated by the global lender budgeted at $50 million (Sh7.7 billion), the feasibility of some Kenyan business models will be assessed and those with the most scalable ideas will be selected for the World Bank’s grant.

The program already has its sights set on 23 outstanding businesses for their ability to expand their businesses under the Kenya Industry and Entrepreneurship Project (KIEP), as reported by the Kenyan newspaper, The Star Kenya.

Under the Ministry of Investments and Trade, the State Department for Industry is in charge of carrying out the program, the Star’s report notes.

Source: Business Insider