Kenya’s Credit Bank took home the best SME partner Bank of the year in East Africa at the recent European Global Banking and Finance Awards 2019 held the United Kingdom.
Judges said Credit Bank has been at the forefront in its campaign towards enabling the growth of SMEs in Kenya through its Entrepreneurship hub E-Hub.
Formed in 2016, the hub provides a platform where entrepreneurs can engage, learn and find mentors who help them prosper.
‘’Over the years we have hosted several forums where entrepreneurs have benefitted through learning, networking, and personalised coaching sessions,’’
The hub has looked at seeking in place systems and processes that give businesses benefits such as being investor ready.
For instance, it was recently given close to Sh1 billion by the African Development Bank (AfDB) for onward lending to small and medium-sized enterprises (SMEs).
AfDB said the Credit Bank is well placed to lend to SMEs, which it has been providing with various credit facilities including loans, working capital, and trade finance.
The facility will be accessed by companies in the construction sector, agriculture, renewable energy, and manufacturing sectors.
This year’s awards were recognising organisations and individuals that stood out from the crowd, and are consequently moving their industries forward through good governance, innovation know-how, and quality of service were major considerations.
The award scheme now in its seventh year aims to give corporate organisations insight into various achievements within a range of organizations.
Local lenders including Equity Bank and KCB Bank were feted for their various innovative digital lending products.
Other banks in Africa that got awards are CRDB Bank a Tanzanian Bank which scooped the Innovation in Financial Inclusion and Social Responsibility bank of year in East Africa.
