How the COVID-19 pandemic has impacted SGBs in Kenya: research by Invest in Africa Kenya
Small Foundation are pleased to share a report published by our impact network partner Invest in Africa Kenya (IIA) earlier in the year: Measures to support small and growing businesses to recover from the impact of COVID-19: a study based on Turkana And Kwale.
The research was supported by Small Foundation, the International Finance Corporation (IFC), and further stakeholders including the Turkana County Government and Chamber of Commerce. Interviews were held with a diverse sample of 775 business owners across the two counties, which are among the most economically marginalized in Kenya and have a very high economic dependency on SGBs.
The findings include key challenges and impacts, most and least affected sectors, and pivoting strategies utilised by SGBs in the face of the COVID-19 pandemic. Specific recommendations include suggestions for policy and other government measures as well as private sector participation.
Lack of access to finance, an ever-present barrier to growth, has curtailed ability to withstand shocks or to pivot during the pandemic. Part of the recommendations involve increasing awareness of government initiatives improving access to finance, and to assist SGBs in readiness to receive finance.
Invest in Africa is a pan-African private sector partnership initiative working to drive sustainable growth and job creation by developing African SGBs. With presence in seven African countries, IIA’s vision is to create prospering African economies.
This investment was part of Small Foundation’s support for mission-aligned COVID-19 response initiatives. Our partnership with IIA is part of Small Foundation’s network practice in East Africa and our overall portfolio of work on supporting impact networks.