Barclays Kenya to launch programme that benefits SMEs and corporates

The Kenya financial sector remains sound and resilient with improved performance indicators according to the Central Bank of Kenya premised on ‘the New Normal’.

This has three pillars:  greater transparency, stronger governance and effective business models.

Market analysts have also stated that key drivers of their growth has been through alternative channels, cost containment and increased innovation are supporting most support banks’ growth and diversification.

With increased globalisation Barclays Bank of Kenya, is examining new ways to cater to corporate clients, including financial supply chain management to make life easier for their clients.

“Continued investment in the automation and digitization of systems, processes and solutions in a bid enhance efficiency as well as to provide their customers with convenient access to products and solutions will propel Barclays Bank of Kenya’s growth,” according to Cytonn Investments Analysts Barclays Bank Kenya Earnings Update – Q1’2017.

The bank is is set to launch the Barclays Enterprise Supply Development programme that aims to prioritise corporate loans and offer SMEs easy and flexible banking products to help them gain more business opportunities.

Enrico Camerinelli,senior analyst at Aite Group,  says almost any business decision has an impact on the supply chain, and in a globalized world, supply chain collaboration is one of the most highly prioritized corporate objectives.

In Kenya currently, credit risk remains elevated as large corporates restructure their borrowings cites the CBK Monetary Policy Committee when it retained the Central Bank Rate at 10.0 percent in July.

Kenya National Bureau of Statistics in its Quarterly Gross Domestic Product Report First Quarter 2017, the finance and insurance sector’s growth slowed primarily on account of commercial banks reduced lending to the private sector.

Barclays aims to address this through the program that will help the SMEs and their corporate customers enjoy conducive business solutions besides other attractive benefits and incentives as a way of being responsive to their needs..

Barclays has recognised that, “For the majority of consumers, ‘value’ is not simply a question of price: quality, provenance and brand identity are important factors influencing purchasing decisions.”

Read: 

Barclays Kenya Banks on Technology for Enhanced Financial Services

Barclays Bank of Kenya working with SMEs to Address Supply Chain Challenges

Barclays Kenya is currently implementing initiatives to educate entrepreneurs and the Small Medium Enterprises on how they can understand their customers, their business and working capital cycle, from procurement to getting paid by the end user.

Going forward, how the bank will address issues relating to cost, quality, time, will be critical in how they will increase their reach to supply chain clients.