As a leading African banking group, Absa Bank Kenya PLC is committed to furthering the development and prosperity of the country and its people. As such, the bank believes in the capacity of our SMEs and is committed to continue supporting them bring their possibilities to life.
In line with this, the bank has partnered with the Kenya National Chamber of Commerce and Industry (KNCCI) to provide mentorship and networking opportunities to businessmen and women across Kisii County as part of their efforts to support enterprise development. To this end, the bank hosted entrepreneurs on Tuesday, 25th October 2022 to an engagement session, focusing on opportunities for growth.
The bank invited the County Leadership to this business forum to discuss business opportunities in the Western region and will be looking to get their deep insights on the county prospects that are available for SMEs and how they can access them.
ABSA Bank Kenya is keen to partner with the County Government of Kisii to enhance capacity of SME sector as well as support the growth and development of existing and emerging entrepreneurs.
According to the newly elected governor of Kisii,
- The County has a population estimated at 1,266,860, according to the 2019 Kenya Population and Housing Census.
- The vision of Kisii County is “To be a prosperous County with a high quality of life for its citizens”.
- Agriculture is the main driver of Kisii County’s economy; it is estimated to contribute about 80 percent of the Gross County Product (GCP) according to Kenya National Bureau of Statistics (2019) report. It is against that backdrop that the Kisii County Government led by H.E. Hon. Arati has prioritised the agriculture sector, to make it an ultimate means to employment, wealth creation, and food security.
- The Kisii County government seeks to encourage investment in value addition and cash crop farming and make available agricultural subsidies and agricultural extension services. This is aimed at reviving industrial (cash) crops such as coffee and pyrethrum as well as improving the quality of the county’s agricultural produce.
The launch of the tour in Kisii was graced by the Governor of Kisii County – Hon. Paul Simba Arati, Hon. Dr. Robert Monda – Deputy Governor, Kisii County among other dignitaries.
In his remarks the Managing Director of ABSA Bank Kenya confirmed on the reassurance of ABSA Bank’s commitment to grow the SME sector of the region and in the country as he listed:
“Looking back on the two-year journey the bank has traveled since they introduced the Absa brand in this market, the bank is indeed proud of the milestones they have achieved over this period and are filled with gratitude to all our stakeholders not just for entrusting us with their financial needs but for joining hands with us to ensure that we all play a part in keeping the wheels of our economy going. “I want to take this opportunity to appreciate all of you for your continued patronage and assure you that we do not take this for granted.” He added
“From the ABSA Bank perspective, the managing director re-assured Kisii county that their commitment to boldly spring towards improving our customer propositions still holds and that the bank remains steadfast in their promise to positively impacting our communities through their shared value agenda. On that same breath, the bank has made significant strides towards fulfilling their pledge to support the SME sector, which is critical for the growth and development of our nation and at the same time learnt some key lessons that will serve us well in the future.”
ABSA Bank Kenya has particularly focused their energies on supporting SMEs navigate through persisting complex challenges, including the disruptions arising from the COVID-19 pandemic, civil strife (as is currently the case with the Ukraine-Russia crisis), drought, inflation, forex fluctuation, formalisation, access to financing and networks among other issues.
During this difficult operating environment, our strategy has remained to be a partner of growth for our SMEs as part of efforts to help them mitigate these challenges and support them to pivot for recovery and growth and as you heard from my colleague Elizabeth, we have very exciting and relevant solutions for this critical sector.
The Purpose of the Tour in ABSA Bank Kenya’s managing director’s remarks
“Distinguished Guests, during this tour, we want to take some time to listen and hear from you on the challenges that you encounter when dealing with us and how we can improve your banking experience with us. We also want to learn more about the products and solutions that are relevant to your businesses and to this region in particular. Please also take advantage of this session to interact with us to get a better understanding of how we function, including how you can improve the bankability of your businesses.”
“Let me also say that beyond financial solutions, we have adopted a holistic approach to SME empowerment where business owners are trained on business sustainability, funding, book-keeping and networking so as to ensure they become bankable. We are also committed to continue supporting our SME customers with business insights, networks, and expertise to transform their businesses.” He added
“It is our firm believe that through candid conversations, we shall be in a better position as a bank to support high, broad-based, inclusive and sustainable growth of SMEs in partnership with counties.” He closed.
Enjoy ABSA Bank Tailored products for the SMEs by sending the term #Wezesha to 22268 or by visiting https://www.absabank.co.ke/business/bank/sme-business-accounts/