Enterprises housed under the Kenya National Chambers of Commerce and Industries (KNCCI) are set to benefit from affordable loan terms from KCB following a partnership
The three-year deal seeks to open the credit line for Small and Medium Sized Enterprises (SMEs) across the country in various sectors, including hospitality and tourism, retail, trade and manufacturing.
It targets more than 50,000 members among them women and youth-owned businesses.
The partnership also involves the KCB Foundation, which will offer financial capacity-building to KNCCI members.
Speaking at the signing ceremony, KCB’s chief commercial officer Samuel Makome said the partnership will enable the bank serve as a catalyst for sustainable development.
This, he said, will be done by facilitating credit flow to the critical SME sector, including the informal industry, jua kali.
"We are embarking on a pathway of solutions and we are confident that the strategic partnership with the national chamber of commerce will address the financial and non-financial needs of the SMEs across all the 47 Counties,” Makome said.
KNCCI president Richard Ngatia said the partnership will boost efforts in supporting SME ownners to generate of wealth.
“The partnership with one of the largest lenders in Kenya will offer us an opportunity to create a sustainable credit line for our member's businesses growth," Ngatia said.
Apart from the credit, KNCCI members will also enjoy non-financial solutions, including advisory, networking opportunities, training and free account maintenance fee for enterprises with over $1,000 (Sh122,550) in their accounts.