Search Results for: SMEs
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BUSINESS
Stanbic Bank Affirms Commitment To Foster Growth Of SMEs In Kenya
Stanbic Bank Kenya has affirmed its commitment to SMEs growth and capacity building through innovative, customized and relevant solutions. The Bank made this announcement during the Kenya Annual Manufacturing Summit & Expo, popularly known as the Changamka Shopping Festival, organized in partnership with the Ministry of Investments, Trade, and Industry. Speaking to the theme of the festival, “Celebrating Kenya’s Manufacturing…
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NEWS
Elizabeth Wasunna-Ochwa: How financial institutions can strengthen MSMEs to grow their contribution to the economy
Kenya’s economic foundation unquestionably rests upon its Micro, Small, and Medium Enterprises (MSMEs). As indicated in Sessional Paper Number 5 of 2020 on Kenya Micro and Small Enterprises Policy, these enterprises contribute to 24 percent of Kenya’s GDP, encompass over 90 percent of private sector enterprises, and engage 93 percent of the total labour force in the economy. The MSMEs…
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BUSINESS
Kingdom Bank partners with Sinapis to offer training to local SMEs
Kingdom Bank through the KB Growth Hub hosted at least 40 local entrepreneurs for a training and business consulting clinic in partnership with Sinapis. A social enterprise that empowers MSMEs through coaching and training. The full-day consulting services session saw MSME owners and directors engage with experts to assess their business needs and understand their pain points from the sales…
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NEWS
Faulu Bank Empowers SMEs Through Innovative Customer Engagement Forums
Faulu Microfinance Bank has kicked off the rollout of its revamped solutions to customers and SMEs across the country ensuring that they fully understand and can harness the benefits of their new offerings. The move is in line with the bank’s new commitment to foster the growth of small and medium-sized enterprises (SMEs) even as it positions itself as a leading Traders…
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BUSINESS
KCB, NBK and Britam Target SMEs in Health Insurance Distribution Deal
KCB and National Bank of Kenya (NBK) have entered into an agreement with Britam General Insurance to distribute affordable health insurance products targeted at Small and Medium Enterprises (SMEs) across the country. In the deal, KCB Bancassurance Intermediary Limited and National Bank of Kenya Bancassurance Intermediary Limited will jointly distribute the newly launched KCB Flme Simba Health and Uzima Tele Insurance Plans. The two products are specifically designed to meet the needs of MSMEs by offering affordable premiums with a flexible…
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NEWS
Vaspro celebrating MSMEs in Kenya with a special offer
Did you know that Micro-Small and Medium-sized Enterprises (MSMEs) make up over 90% of all firms and accounts, on average for 70% of total employment and 50% of gross domestic products? In other words, MSMEs sustain our development and economy globally. That is why the general assembly declared the 27th of June the Micro-small and medium-sized enterprises day (MSMEs Day).…
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NEWS
Health SMEs in Africa to benefit from a digital finance fund
Medical Credit Fund (MCF), a non-profit fund exclusively dedicated to financing small and medium-sized healthcare companies in Africa, celebrated its first loan disbursement within MCF2 on Monday. The Dutch Ministry of Foreign Affairs made a catalytic investment of Ksh.900Million for the second stage of the fund. Medical Credit Fund is established as part of PharmAccess Group, a non-profit organization working…
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Uncategorized
AGF issues $5m Loan Portfolio Guarantee to Sidian Bank to boost SMEs financing in Kenya
The African Guarantee Fund (AGF), has issued a Loan Portfolio Guarantee to Sidian Bank to boost financing of the SME sector in Kenya. The Guarantee line worth half a billion Kenya shillings will be in place for a period of 4 years starting 2021. The partnership seeks to support the growth of SMEs through provision of guarantees for the Bank’s…
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NEWS
NCBA, KAM partner to support manufacturing SMEs in Kenya
NCBA Bank Kenya PLC has today partnered with the Kenya Association of Manufacturers (KAM), to enhance the development of Manufacturing SMEs in the country. The two-year deal will see the lender and KAM support 300 Manufacturing SMEs. This will be done through capacity-building programs to address some of the challenges facing local Manufacturing SMEs. Through the partnership, the two institutions…
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Uncategorized
Africa Logistics Properties launches $6million warehousing facility for Kenyan SMEs
Africa Logistics Properties (ALP) has today launched $6million warehousing facility for Kenya small businesses.
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Uncategorized
Equity Bank Receives $50 Million Loan from IFC to support Kenyan SMEs affected by COVID-19
IFC has announced a $50 million loan to Equity Bank Kenya to support local SMEs especially those facing COVID-19 related challenges. The loan, which will ultimately support hundreds of Kenyan businesses in the manufacturing, health, trade, transport, and consumer goods sectors, is part of IFC’s global $8 billion fast-track COVID-19 facility, announced in March. It is designed to help businesses…
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NEWS
Old Mutual Health Revamps SME Health Insurance Product
Old Mutual Health, the health insurance arm of leading financial services provider, Old Mutual Group, has revamped its SME Health insurance product, taking into consideration the distinct needs of small and medium-sized enterprises (SMEs). The enhanced solution marks a significant step forward in providing comprehensive healthcare coverage with unmatched benefits to SMEs and their employees. The revamp was guided by…
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NEWS
Faulu Bank and GIZ Partner to Unlock Green Financing to 400 Kenyan Farmers
Smallholder Farmers in the dairy and horticulture value chains in Kenya can now access green financing from Faulu Microfinance Bank. This follows the signing of a partnership between the bank and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) as part of the Sustainable Energy for Smallholder Farmers project being implemented in Ethiopia, Kenya, and Uganda. The Bank aims at disbursing KES120…
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BUSINESS
Bank of Africa and Deluxe Trucks and Buses Ink Asset Financing deal
Bank of Africa and Deluxe Truck and Buses E.A have announced a new partnership to offer affordable truck financing solutions to small businesses in Kenya. The partnership will make it easier for small business owners to purchase trucks and manage their truck financing needs. The agreement will see customers access up to 90% financing and 0% processing fees for purchasing…
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NEWS
Kenya Power pilots smart poles for its home internet business
Kenya Power has been mooting the idea of providing fixed internet for some time now. As of last year, the plans were in the final stages and now it looks like the government-run enterprise is ready to kick the ball rolling. The company has commenced pilots to install special utility poles (Smart Poles) that will support this course. Kenya Power’s Managing Director &…
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NEWS
President Ruto launches Hustler Fund to connect Kenyans with access to affordable credit
Kenya’s President Dr. William Ruto officially launched Ksh.50 billion Hustler Fund, a digital financial inclusion initiative designed to improve financial access to responsible finance for personal, micro, small, and medium-sized enterprises (MSMEs) in the country. The Hustler fund is a creation of the draft Public Finance Management (Financial Inclusion Fund) Regulations, 2022, thereby allowing its operationalization. The Hustler Fund provides access to responsible finance…
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NEWS
Afreximbank outlines $3billion Country Programme for Kenya
Kenya is set to benefit from a US$3 billion Country Programme from the African Export-Import Bank (Afreximbank). This was announced during a meeting between Kenya’s President, His Excellency Dr. William Ruto, and Professor Benedict Okey Oramah, President and Chairman of the Board of Directors of Afreximbank. During the meeting held at State House Nairobi, Prof. Oramah said the Bank was…
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NEWS
Bulk SMS provider VasPro celebrates Kenyan tennis star Angela Okutoyi, offers financial help
Bulk SMEs provider Vaspro has today shown appreciation to tennis sensation Angela Okutoyi after she made history by becoming the first Kenyan woman to reach a Wimbledon final. The event which was held at the Vaspro offices in Nairobi saw the tech company acknowledge the tennis star’s efforts in putting Kenya in the world tennis scene thus offering her financial…
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BUSINESS
Faulu Bank in Ksh1Billion boost to small ventures in Rift counties
Faulu Microfinance Bank is boosting its presence in the counties by increasing support to small enterprises to play a bigger role in key sectors like agriculture, manufacturing, trade, tourism and real estate. This will see the -Bank lend more than Ksh 1billion to farmers, traders, contractors, manufacturers and property developers in Nakuru, Nyandarua and Laikipia counties, three of the fastest…
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NEWS
KEPSA appoints Flora Mutahi first female chairperson
The Kenya Private Sector Alliance (KEPSA) has appointed Ms Flora Mutahi as the first female Board Chai. Mr. Jaswinder Bedi was appointed as the Vice-Chair. Mutahi is part of the new leadership team unveiled during KEPSA’s 17th Annual General Meeting which was held virtually. During the AGM, KEPSA appreciated the outgoing leaders for all the successful initiatives they spearheaded while in office. KEPSA also released its…
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