Transformational Business Network Kenya chapter chairman Ken Wathome. Photo/ nationmedia.com
A Europe-headquartered investment fund is set to train 17 Small and Medium Enterprise owners and review their business operations before funding them.Transformational Business Network (TBN), a London-based firm said it had received Sh258 million from UK's Department for International Development (DfID) to be given to Kenyan firms with growth prospects.TBN made the announcement during the launch of the fund's Kenya chapter.The firm said another 93 SMEs will be targeted in three years' time.TBN Kenya chairman Ken Wathome said business experts will mentor the SMEs and help them understand market dynamics including product packaging and marketing.“We want a situation where a company's needs have been identified as hurdles to its growth,” he said.“Then we shall fund them to scale up their businesses thereby opening a window for Kenyan entrepreneurs to access much needed funds,” he added.Trainers will participate in the day-to-day running of the selected SMEs and help identify strategies that will put the companies to growth path.The 17 participating SMEs have been drawn from the agricultural, education and service sectors.TBN which, was founded in 2003 has grown into an international organisation with a network of over 2,000 members in seven countries.So far, the company has invested Sh7 billion in supporting SME owners to boost business.The SME sector in Kenya currently employs 84 percent of the population.