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August 21, 2018

Sidian Bank, KNCCI ink deal for countrywide SME hubs

Sidian Bank CEO Chege Thumbi with KNCCI national chairman Kiprono Kittony during the signing of the SMEs MoU in Nairobi, February 13, 2018. /COURTESY
Sidian Bank CEO Chege Thumbi with KNCCI national chairman Kiprono Kittony during the signing of the SMEs MoU in Nairobi, February 13, 2018. /COURTESY

Sidian Bank and the Kenya National Chamber of Commerce and Industry are set to establish SME hubs in the bank's branches countrywide.

The two signed an MoU on Tuesday in a move aimed towards empowering the growth of SMEs.

The hubs are expected to be established within the next five years.

The first one will be based in the bank’s Kenyatta Avenue branch, which will be operational in a month’s time.

KNCCI will use the hubs to meet SMEs exchange ideas, hold consultative forums, while tapping into financial advisory, trade finance solutions and business expertise from Sidian Bank.

"We intend to see this partnership impact SMEs by shaping, developing and addressing their needs. In turn, Sidian Bank and Kenya National Chamber of Commerce will have made a significant contribution to the realisation of Vision 2030 goal of the creating a competitive and prosperous Kenya," Chege Thumbi, Sidian Bank chief executive officer, said.

On the other hand KNCCI chairman Kiprono Kittony noted that its 16,000 members countrywide will directly benefit from this partnership.

Additionally, the Chamber’s Import & Export (Impex) Club will gain direct access to expert trade advice and solutions to Sidian Bank’s robust trade finance teams.

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