The Kenya National Chamber of Commerce and Industry (KNCCI) and Stanbic Bank Kenya have formed a collaboration to provide financial and non-financial support to the chamber’s Micro, Small and Medium Enterprises (MSMEs).
The two entities signed a Memorandum of Understanding (MoU) at the Busia Youth Polytechnic Ground.
Florence Wanja, Stanbic Bank Kenya’s Head of Business and Commercial Clients, said the collaboration arrangement reinforces the bank’s commitment to supporting MSMEs in the region and across the country.
She added that Stanbic Bank has continued to play a significant role in the economic development of Kenya, which is consistent with its mission of driving Kenya’s growth.
“As an institution, we remain committed to solving holistic needs of our SME client segment and partnering for sustainable growth,” Wanja
The partnership with the bank, according to Silivanus Mbogo Abungu, Chairman of the Kenya National Chamber of Commerce and Industry Busia, is an endorsement of the bank’s fruitful collaboration over the years, which will be of great assistance to MSMEs in the region.
“As a chamber, our focus is on building a vibrant and prosperous business community in the region and across the country. We remain committed to empowering our members in all possible ways.”
Through the DADA proposal, Stanbic Bank has successfully granted loans totaling Sh844 million to women entrepreneurs.
In addition, the bank partnered with the Ministry of Industrialization and Enterprise Development to develop the FutureNiDigital initiative, which has effectively trained 50,807 enterprises and individuals in digital skills.