On August 4, the Hub partnered with Umati Capital and Leather Articles Entrepreneurs Association to hold a trade finance training session for Kenyan leather small and medium-sized enterprises (SMEs). The main objective of the training was to increase the financial literacy of the leather SMEs and evaluate how Umati Capital could support the SMEs’ growth.
There are few resources available to SMEs to increase their awareness on trade finance options in the market. Knowledge is power and these training empowered our future clients with information required to grow their businesses,” said Co-Founder & Chief Executive Officer Umati Capital, Ivan Mbowa pictured above.
The training provided bankable and market-ready firms with practical knowledge and skills on financial management, operations management and marketing.
The training was very insightful and practical. Entrepreneurs were able to enumerate the issues they face and got the issues directly addressed,” said Leather Articles Entrepreneurs Association Executive Secretary Beatrice Mwasi.
Each training session consisted of a teaching component followed by a practical session that included discussions and case studies with the participants.
The workshop was great and I learnt a lot on how to access financial capital for growth of my business,” said Beatrice Mado of Shoe Storm Nakuru.
The Hub, together with the Ministry of Trade, Industry and Cooperatives and the Leather Articles Entrepreneurs’ Association, is supporting the growth of the local leather sector by helping businesses overcome challenges toward value addition. Key among these challenges is access to finance for capital expenditure and for working capital to support daily business activities and future growth.