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Entrepreneur's Corner

SMEs And Entrepreneurship At The Core Of NCBA’s Products And Services As They Trailblaze The Banking Sector

BY Steve Biko Wafula · January 17, 2024 05:01 pm

KEY POINTS

NCBA has leveraged technology to simplify banking processes, making it easier for clients to access financial services.

KEY TAKEAWAYS

NCBA’s efforts in supporting SMEs significantly contribute to the overall economic growth and prosperity of Kenya.

NCBA Bank has established itself as a leading financial institution supporting SMEs and entrepreneurs in Kenya, offering a range of services and products tailored to their unique needs.

The bank’s commitment to SMEs and entrepreneurs is evident through various innovative practices and strategic partnerships.

Read Also: NCBA Avails Ksh 5 Million As Scholarship For 17 Needy Students In Partnership With Palmhouse

  1. Digital Innovation and Accessibility: NCBA has leveraged technology to simplify banking processes, making it easier for clients to access financial services. This includes digital payments, quick access to credit, and efficient deposit retention, helping to process millions of transactions daily.
  1. Investment in Technology for Financial Inclusion: The bank focuses on using data analytics and technology to create a closer relationship with small business owners, enhancing their access to financial products and services.
  1. Support for Women Entrepreneurs: Through different programs, NCBA has shown a commitment to empowering women entrepreneurs, acknowledging the unique challenges they face, such as financial exclusion and regulatory hurdles.
  1. Financial Education and Economic Empowerment: NCBA engages in capacity-building initiatives, offering training programs to SMEs that cover various aspects of business management, including financial and operations management, marketing, negotiation, and green financing.
  1. Wide Network of Branches and ATMs: With its extensive network across Kenya, NCBA ensures convenient access to its services, benefiting SMEs operating in multiple regions.
  1. Massive Customer Base: In 2022, NCBA reached a significant milestone with over 60 million customers across Africa, a testament to its trustworthiness and reliability.
  1. Investment Milestones: The NCBA Investment Bank has shown impressive performance in wealth management and investment solutions, with substantial client assets under management.
  1. Innovation in Mobile Banking: The bank has been at the forefront of mobile banking innovation, providing easy and accessible financial services to businesses and entrepreneurs.
  1. Collaborations for SME Development: NCBA has partnered with various organizations to support the growth of SMEs in different sectors, reflecting its commitment to the economic development of Kenya.
  1. Financial Inclusion for Marginalized Entrepreneurs: The bank actively works to include underrepresented entrepreneurs, offering them tailored financial solutions.
  1. Emphasis on Relationship-based Banking: NCBA values the importance of building strong relationships with its clients, which is crucial for SMEs and entrepreneurs.
  1. Contribution to Economic Growth: NCBA’s efforts in supporting SMEs significantly contribute to the overall economic growth and prosperity of Kenya.
  1. Innovative Financial Products: The bank offers innovative financial products that go beyond traditional banking services, catering to the evolving needs of SMEs.
  1. Community Engagement: Opening branches in areas like Chwele Market, NCBA demonstrates its commitment to community engagement and financial accessibility.
  1. Scholarship Programs and Social Responsibility: NCBA’s involvement in social responsibility initiatives like scholarship programs for needy students highlights its broader commitment to societal development.

These features position NCBA as a unique and preferred banking partner for SMEs and entrepreneurs in Kenya, differentiating it from other banks in terms of technological innovation, inclusivity, and dedicated support for small businesses.

Read Also: More Than 50 Entrepreneurs Graduate From NCBA’s Entrepreneurial Program

Steve Biko is the CEO OF Soko Directory and the founder of Hidalgo Group of Companies. Steve is currently developing his career in law, finance, entrepreneurship and digital consultancy; and has been implementing consultancy assignments for client organizations comprising of trainings besides capacity building in entrepreneurial matters. He can be reached on: +254 20 510 1124 or Email: info@sokodirectory.com

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