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Entrepreneur's Corner

15 Reasons Why You NEED NCBA Now: The Bank Fueling Ambition And Entrepreneurship In Kenya

BY Steve Biko Wafula · January 13, 2025 02:01 pm

KEY POINTS

NCBA’s leadership in sustainability and green initiatives sets it apart in the financial sector. The bank has invested heavily in projects that promote environmental conservation and sustainable business practices. For example, its green bond issuance in 2022 raised KES 8 billion to fund eco-friendly projects, solidifying its position as a pioneer in sustainable finance.

KEY TAKEAWAYS

NCBA’s community engagement initiatives further illustrate its commitment to societal well-being. Through partnerships and corporate social responsibility programs, the bank supports education, healthcare, and environmental conservation. These efforts not only uplift communities but also reinforce NCBA’s role as a socially responsible corporate citizen.

Entrepreneurs and business owners often seek a financial partner that not only provides banking services but also fosters growth, innovation, and sustainability. NCBA Group stands out as a beacon of support for anyone with ambition, offering a wide array of products and services tailored to meet the needs of entrepreneurs and forward-thinking individuals. With a solid foundation and a focus on growth, NCBA is revolutionizing banking in Kenya and beyond.

One of NCBA’s flagship offerings is M-Shwari, a revolutionary mobile-based savings and loan product created in partnership with Safaricom. This service allows users to save and access micro-loans seamlessly through their mobile phones. M-Shwari has transformed the financial landscape in Kenya, with millions benefiting from its simplicity and accessibility. By 2024, M-Shwari had attracted over 30 million users, disbursing loans worth billions annually.

The NCBA Now App is another innovative solution, giving users access to a broad range of banking services at their fingertips. With features such as instant account access, loan applications, and real-time transaction tracking, the app epitomizes convenience. The app’s user-friendly interface and robust security protocols have garnered positive reviews, making it a preferred tool for entrepreneurs and small business owners. Not to mention that you can access digital credit on the Now App based on your banking transactions.

Read Also: Kenya’s Top 15 Financial Titans: NCBA, KCB, And Equity Leading As The Fight For Customers Goes High Tech

NCBA’s collaboration with Safaricom extends to Fuliza, a mobile overdraft facility that ensures individuals and businesses maintain liquidity even during short-term cash crunches. Fuliza has supported over 20 million customers since its launch, demonstrating NCBA’s commitment to addressing immediate financial needs. Fuliza is an amazing product as an overdraft for emergencies for businesses.

For young professionals and tech-savvy entrepreneurs, Loop offers a unique digital banking experience. Loop’s budgeting tools, investment options, and financial advisory services empower users to make informed financial decisions, making it an invaluable partner for those looking to grow their wealth. Loop is the best platform for content creators in the country.

NCBA’s Asset Finance product is a game-changer for businesses aiming to expand their operations. Whether it’s acquiring machinery, vehicles, or equipment, NCBA provides tailored financing solutions with flexible repayment plans. This has made the bank a favorite among SMEs, with an impressive disbursement portfolio of over KES 100 billion in asset financing annually.

The bank’s dedication to holistic financial solutions is evident in its Bancassurance services, which provide comprehensive insurance products. Entrepreneurs can safeguard their businesses with coverage tailored to their needs, ensuring resilience in the face of unforeseen challenges. NCBA’s insurance products have gained a reputation for reliability, with claim turnaround times that set industry standards.

One of NCBA’s standout features is its swift loan processing. With a turnaround time of 12-24 hours, the bank ensures that entrepreneurs and business owners can access capital promptly, enabling them to seize opportunities without delay. This efficiency underscores NCBA’s commitment to supporting its customers’ ambitions.

NCBA also offers a range of savings and fixed deposit products designed to encourage disciplined financial growth. With competitive interest rates and flexible terms, these products cater to diverse financial goals. For instance, their NCBA Money Market Fund (MMF) delivers attractive returns while ensuring liquidity, making it a popular choice among investors. Imagine banking and investing with your bank in our ecosystem. This is impressive.

As a publicly listed company on the Nairobi Securities Exchange (NSE), NCBA offers Kenyans the opportunity to own a stake in its success. Shareholders benefit from dividends and capital appreciation, aligning their growth with the bank’s performance. In 2023, NCBA recorded a profit after tax of KES 16 billion, reflecting its robust financial health and strategic growth initiatives. Imagine buying their shares and getting dividends. Growing your wealth at your fingertips.

NCBA

NCBA Share Price on NSE (2019-2023): This chart illustrates the average annual share price performance, showcasing steady growth over the last five years. 

Read Also: NCBA Goes Ham On Brick And Mortar, Opens Another Branch In Kerugoya

NCBA’s leadership in sustainability and green initiatives sets it apart in the financial sector. The bank has invested heavily in projects that promote environmental conservation and sustainable business practices. For example, its green bond issuance in 2022 raised KES 8 billion to fund eco-friendly projects, solidifying its position as a pioneer in sustainable finance.

The bank’s leadership team, led by its dynamic CEO who also serves as the Chairman of the Kenya Bankers Association, exemplifies visionary governance. Under their stewardship, NCBA has implemented policies and strategies that prioritize customer-centricity, innovation, and corporate responsibility. The board’s diverse expertise ensures that the bank remains agile and responsive to market demands.

Customer testimonials underscore NCBA’s impact on businesses and individuals alike. Entrepreneurs frequently laud the bank for its personalized service and unwavering support. One notable example is a tech startup that scaled its operations nationally within a year, thanks to NCBA’s tailored financing and advisory services.

NCBA’s community engagement initiatives further illustrate its commitment to societal well-being. Through partnerships and corporate social responsibility programs, the bank supports education, healthcare, and environmental conservation. These efforts not only uplift communities but also reinforce NCBA’s role as a socially responsible corporate citizen.

NCBA

NCBA Dividend Yield (2019-2023): This graph demonstrates an increasing trend in dividend yields, reflecting the bank’s commitment to rewarding its shareholders. 

Read Also: Secure Your Future: NCBA MD, John Gachora Shares His Golden Nuggets On How To Secure Your Future Financially At The Abojani 4th Economic Conference.

With a strategic focus on digital transformation, NCBA has invested heavily in technology to enhance customer experience. Its robust IT infrastructure ensures seamless service delivery, while advanced analytics enable the bank to anticipate and meet customer needs effectively. This digital-first approach has positioned NCBA as a leader in the evolving financial landscape.

The bank’s performance metrics speak volumes about its efficacy. In 2023, NCBA’s total assets grew to KES 600 billion, while its loan book expanded by 20% year-on-year. These figures reflect a strong trajectory of growth and a testament to the trust it has earned from its customers.

In essence, NCBA embodies the essence of a modern, forward-thinking financial institution. Its comprehensive suite of products and services, combined with a customer-centric approach, makes it the ideal partner for entrepreneurs, business owners, and anyone with the ambition to succeed. By choosing NCBA, you align yourself with a bank that not only believes in your potential but also provides the tools to realize it. With its stellar track record and unwavering commitment to excellence, NCBA truly stands as the bank for those who dare to dream and do.

Read Also: New Year, New Financial Goals With NCBA: Why Financial Literacy Is The Real Resolution

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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