Inua Biashara Summit for SMEs to be held by Kenya Banking Sector

From the 22nd to the 29th of June, the Kenya banking industry, under the Kenya Bankers Association (KBA), will hold the second Inua Biashara Summit for micro, small, and medium-sized enterprises (MSMEs).

During the week-long virtual Summit, ten high-level speakers from the public and private sectors have been confirmed to engage MSMEs from around the country, setting the stage for the industry to celebrate the resilience of businesses as the globe observes the International Day of MSMEs on June 27th.

On Tuesday, June 22nd, the Summit will begin with the unveiling of an innovative Blended Finance partnership established collaboratively by KBA, Financial Sector Deepening Kenya (FSD-K), and the Kenya Climate Innovation Center (KCIC).

Following the June 22nd event, a three-day virtual tradeshow will allow banks to demonstrate their products and services to clients via digital engagement booths.

Inua Biashara Summit

The Inua Biashara Virtual Tradeshow is an innovative platform that allows banks to promote their products to SMEs in a contactless manner, aware of the current Coronavirus (COVID-19) pandemic. On Thursday, June 24th, Anne Mutahi, the President of Kenya’s SME Advisor, will officially inaugurate the Inua Biashara Virtual Trade Show.

The event will serve as a warm-up for the Inua Biashara Event, which will be held on June 25th and overseen by Hon. Ms. Rebbecca Mbithi, CEO, Family Bank, and Dr. Habil Olaka, CEO, KBA. Eric Wafukho, Chief Administrative Secretary (CAS) National Treasury and Planning, Ms. Rebbecca Mbithi, CEO, Family Bank, and Dr. Habil Olaka, CEO, KBA.

Workshop on Movable Assets Registry in the Banking Sector

Banks will attend a Movable Assets Registry Training Workshop on the same day. The workshop will aim to increase use of the registry, which was established by the government to make it easier for SMEs with non-traditional collateral to obtain financing.

The week’s events will conclude on Tuesday, June 29 with the publishing of the 2021 KBA MSME Survey Report, which was conducted in collaboration with the Japan International Corporation Agency by the KBA Center for Research and Policy (JICA).

“As an industry that promotes enterprise development, banks are working closely with the National Treasury and the Central Bank of Kenya through the National Credit Guarantee Scheme which seeks to accelerate MSME access to credit during this disruptive pandemic period.” KBA Chief Executive Officer Dr. Habil Olaka.

“We believe MSME recovery and resilience can be catalyzed by their ability to borrow from financial intermediaries at affordable interest rates with low collateral requirements, which is why we commend the Government and the participating banks for collaborating to help SMEs rebuild from the health crisis.” Olaka.

Absa Bank, Co-Operative Bank, Credit Bank, DTB, KCB, NCBA, and Stanbic Bank are the credit guarantee banks at the moment.

‘Celebrating SME Resilience in Turbulent Times’ is the topic of the Summit. Henry Rithaa, Chief Executive of the Micro and Small Enterprise Authority (MSEA), and John Mwendwa, Head of the Ministry of East African Community and Regional Development’s Department of Business Reforms and Transformation, are among the renowned speakers.

Kenya Private Sector Alliance (KEPSA), Kenya Association of Manufacturers (KAM), and Kenya National Chamber of Commerce and Industry are among the other speakers (KNCCI).

Follow @KenyaBankers on Twitter for additional details on the Inua Biashara Virtual Summit.