Sidian Bank and KNCC sign MOU to Empower Entrepreneurs

A Memorandum of Understanding (MOU) has been signed between Sidian Bank and Kenya National Chamber of Commerce towards empowering the growth of SMEs.

This will be realized through the establishment of SME Hubs in Sidian Bank Branches, over a five-year period, with the first hub being domiciled in the bank’s Kenyatta Avenue Branch, which will be operational in a month’s time.

Through the SME Hubs, Kenya National Chamber of Commerce members will have a common meeting place where they can exchange ideas, hold consultative forums while tapping into financial advisory, trade finance solutions and business expertise from Sidian Bank.

Vision 2030 aims at making Kenya a newly industrialized middle-income country, capable of providing a high quality of life for all the Kenyans by the year 2030. SMEs are expected to be a major driver for the attainment of this goal.

Mr. Chege Thumbi, Chief Executive Officer, Sidian Bank noted that development of SMEs was an area of great interest to Sidian Bank adding that it is also at the core of Kenya National Industry of Commerce & Industry mandate,

“This being a matter of common interest to both parties, partnering to empower SMEs through the setting up SME Hubs in Sidian Bank Branches will yield tangible results in the shaping, developing and addressing the needs of entrepreneurs in Kenya,” said Mr. Chege Thumbi.

He further added that they intend for the success of the partnership to impact SMEs ranging from small, medium and large.

In turn, Sidian Bank and Kenya National Chamber of Commerce will have made a significant contribution to the realization of Vision 2030 goal of the creating a competitive and prosperous Kenya.

Mr. Kiprono Kittony, Chairman, Kenya National Chamber of Commerce and Industry said that they have over 17,000 members countrywide and 750 in Nairobi, who will directly benefit from this partnership.

“Additionally, the Chamber’s Import & Export (Impex) Club, who specialize imports and exports will gain direct access to expert trade advice and solutions to Sidian Bank’s robust trade finance teams,” added Mr. Kittony.