To promote strong, viable and profitable SMEs for sustainable economic development and poverty alleviation.
To provide financial and capacity building services that promote the establishmnet and growth of co-operatives and SMEs.
The Small and Medium Enterprises Development Corporation (SMEDCO) was formed in 1983 through an Act of Parliament and is a parastatal which falls under the Ministry of Women Affairs, Community, Small and Medium Enterprises Development. The organization began operations in April 1984. The institution changed its name from Small Enterprises Development Corporation (SEDCO) to Small and Medium Enterprises Development Corporation (SMEDCO) following amendments to the SMEs Act [chapter 24:12] in February 2014. SMEDCO is a development Finance Institution which primarily exists to promote the development of micro, small and medium enterprises and co-operatives in the country, through lending and capacity building.
Salary-based loan products are offered to salaried individuals employed in the Government as well as in the private sector. Salary Based loan are short-term Loans secured against one’s salary. Maximum loan depends on the net salary showing on the payslip.