The Co-operative Bank is now hosting growth and networking forums for micro small and medium enterprises in rural areas. This comes as the bank pushes to support small businesses in the country.
The bank’s latest forum was held in Lodwar, Turkana County on October 25, 2023. The forum presented small business owners in Lodwar and the larger Turkana County with an opportunity for them to network, connect, share inspiring conversations, and growth insights for businesses.
The bank has also revolutionized its MSME package to include a variety of loans tailored for small and medium businesses.
These loans include the Mkopo wa Kujengana, business mortgage and construction loans, MSME working capital and overdraft, MSME term loans, Msamaria Women’s loans, supply chain financing, asset financing and import duty financing.
“Mkopo wa Kujengana Loan is available to individual group members. The group must be registered as a self-help group by the relevant government authorities. With this loan, you get more than just financing; you also receive training on how to manage it,” says Co-op Bank.
Apart from the MSME forums, Co-op Bank is also running a series of initiatives across the country aimed at supporting Saccos to better manage their business as they navigate a challenging economic environment.
In October 2023, the bank organized a Sacco Leaders forum in Kericho where the Saccos and the bank engaged in in-depth discussions on banking technologies such as Open Banking APIs that will enable Saccos to seamlessly access payment and collection solutions.
“This is one of several initiatives by the bank to support Saccos in managing risk and improving efficiency as they navigate a challenging economic environment,” said Co-op Bank.
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Prior to this forum, Co-op Bank had also organized a Sacco Leaders Forum in Muranga County on the need to adopt alternative service channels that will help Saccos improve service delivery to their members and realize significant cost savings.