Small and Growing Businesses continue to play a crucial role in Kenya’s economy. With more than 90% being in this category, providing support ensures these home-grown companies remain strong and thriving entities. Credit Bank remains a strong player and committed to the sector joining other banks during the Inua Biashara Day. This is a continuation of a concerted effort by the banking industry to provide solutions that support the growth and development of Micro, Small and Medium Sized Enterprises (MSMEs).
This year the banking sector led by the Kenya Banker’s Association convened an SME Day dubbed Inua Biashara Day on 6 November 2019 at Safari Park. The conference sought to showcase innovative financial solutions for MSMEs and to affirm renewed commitment and financial support by the banking industry towards businesses. As the biggest impediment to growth in this sector, poor access to finance, limited credit history as well as the lack of proper skills and knowledge of product financial statements are barriers to growth for MSMEs.
Credit Bank has invested in supporting capacity building through programmes like eHub which presents a unique opportunity to equip small business owners with the skills, knowledge and information to prepare them to grow. The Bank commits to continue supporting businesses to thrive. This commitment encompasses helping customers go further, across counties, across borders and even globally. We do this because we recognize that Kenya’s future is tied to the MSME sector growth.