As an importer, one of the challenges faced is unplanned costs that may arise from the import duties. During the different forums carried out in the different parts of the country with our MSMEs customers this was highlighted as a pain point by the different customers that import goods into the country.
We therefore took this feedback and have now introduced the Import Duty Financing solution to solve this challenge. We had a successful launch event on the 28th February 2020 at the New Stanley Hotel where the invited customers expressed their joy because they no longer have to strain their business working capital to meet these unexpected costs incurred during importation of goods.
We continue to look for more opportunities and develop various solutions to build on our vision for MSMEs, which is to grow world class entrepreneurs beyond Kenyan borders.
In the first trip, the customers attended the 126th Canton fair in which they interacted directly with manufactures of various goods and got contacts for their businesses. In the second trip the customers toured China, specifically Shanghai and Yiwu. In Shanghai, they visited one of the world’s busiest shopping streets, Nanjing and in Yiwu, they also visited Futian Market which is the biggest hub in China for all kinds of products. The market is divided into 5 districts, each with various sections selling specific products. In this trip, the customers were able to meet suppliers of electric appliances, electronics, hardware tools & fittings, telcom equipment, vehicles, office supplies, sports equipment, stationery, cosmetics, beauty salon equipment, fashion accessories, beddings, curtains, fabrics, auto & motorcycle accessories, hair ornament & jewellery, festival arts and decorative arts and many others.
In the third international business trip, the customers travelled to Bangkok Thailand and Guangzhou China. In Bangkok, they visited the clothes factories, multiple spare part shops and busy shopping districts. In Guangzhou, they visited various constructions sites where they learnt the latest building technologies and waste management processes. They further visited markets for hardware, kitchen ware, tiles & ceramics, furniture, electronic appliances, clothes and leather among others.