KCB Bank Kenya and leading business media house Bizna Kenya have launched a partnership that will see over 100 micro, small and medium businesses access resources support services from KCB Bank, including payment solutions and loan facilities and financing.
Dubbed #InuaBiznaNaKCB, the partnership comes in the wake of increased funding for small and medium businesses by the bank. According to KCB chief executive officer Joshua Oigara, the bank is currently running an ambitious project in the SMEs sector that will double lending to small businesses between Sh. 50 billion and Sh. 60 billion this year.
In hailing the partnership, Bizna Kenya Chief Executive Officer Tonnie Mello said that the partnership aligns with Bizna’s dedication to developing and promoting small and medium businesses in the country. “Over the past five years, Bizna Kenya has been dedicated towards the promotion and development of the micro, small and medium businesses category. This partnership will now go a long way in boosting MSMEs as the economy emerges from the ravages of the pandemic,” he said.
KCB committed to sponsoring 100 MSMEs with a free membership to the Bizna Kenya MSME club to support businesses to access the loan facilities and financing. Businesses that register shall receive access to exclusive resources and support, including the funding they qualify for to grow. You will need to use the coupon code InuaBiznaNaKCB for free registration when registering.
According to a research study conducted by the Nairobi–based Viffa Consult, small businesses in Kenya have required up to Sh. 250,000 in capital support on average to get back in shape after the 2020 pandemic.
Over the past few months, KCB has accelerated funding for small businesses and cut loan processing time from two weeks to less than seven days. “We are deliberate in our effort to be the ‘partner kwa ground’ for support towards MSMEs across the country. We believe that the support given will go a long way to benefit the livelihoods of our people and our economy as a whole,” KCB director of retail Annastacia Kimtai said.