Absa Bank Kenya Winds Up Western SME Tour With A Bang In Eldoret

Absa Bank Kenya was on a series of SME tours in the Western part of Kenya, to meet, coach, train and offer a lifeline to more than 1000 SMEs. The tour kicked off in Kisumu, then Kisii, Bungoma, and Kitale, and culminated in Eldoret, Uasin Gishu County.

The SME Tour was in partnership with the Kenya National Chamber of Commerce and Industry (KNCCI) with business owners getting an opportunity to access firsthand information on the products and services offered by the lender that are used to boost businesses.

The team from both Absa Bank Kenya and KNCCI landed in Eldoret town, Uasin Gishu County, and interacted with MSMEs who outlined the challenges they face, among them; access to markets, access to finances, access to information, training, and coaching.

Uasin Gishu has a population estimated at 1,163,186 with an annual growth rate of 3.8 percent, according to the 2019 Kenya Population and Housing Census. The County is generally an agricultural zone with large tracks of land being under tea, maize, and wheat.

“Uasin Gishu County is home to a vibrant business community with a diverse portfolio of businesses ranging from agribusiness, manufacturing, and trade. SMEs in North Rift Kenya and particularly Uasin Gishu County are a crucial part of the region’s socio-economic transformation. It is important that as enablers, we join hands with them as well as with the respective county administrations to drive their growth agenda because of the important role they play in uplifting the lives and livelihoods of residents in this region,” said Yusuf Omari, Interim Managing Director at Absa Bank Kenya.

According to Omari, Absa Bank wanted to learn more about the products and solutions that are relevant to businesses in the Uasin Gishu region in particular. He said the bank was taking a holistic approach to SME empowerment where business owners are trained on business sustainability, funding, bookkeeping, and networking to ensure they become bankable.

“We are also committed to continuing supporting our SME customers with business insights, networks, and expertise to transform their businesses,” he added.

Those in attendance were trained on how to access finances from Absa Bank to grow their businesses. They were also introduced to how they could apply and access unsecured lending of up to 10 million shillings, payable over 5 years for existing borrowers, and 7 million shillings for new borrowers, payable in 4 years.

Those interested in various products that Absa Bank Kenya is offering to SMEs can get more information through https://www.absabank.co.ke/business/bank/sme-business-accounts/ or send the term #Wezesha to 22268.

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