Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
Barclays took its SME loan drive to Kisumu on Friday/OJWANG JOE

Kenya

Barclays takes SME loan product on the road to Kisumu

Barclays took its SME loan drive to Kisumu on Friday/OJWANG JOE

Barclays took its SME loan drive to Kisumu on Friday/OJWANG JOE

KISUMU, Kenya, Jul 8 — Barclays Bank of Kenya has set aside Sh30 billion for disbursement as loans to Small to Medium-sized Enterprises (SMEs) across the country to boost their businesses.

The bank’s head of Retail and Business Banking Humphrey Muturi called on entrepreneurs to tap into the fund in order to grow their businesses.

Muturi said the bank was keen on uplifting SMEs through the advancing of loans for business expansion purposes.

Speaking in Kisumu at the launch of the Wezesha Biashara na Barclays campaign, Muturi said the bank would increase the Sh30 billion portfolio should it successfully be taken up.

The bank plans to train 10,000 entrepreneurs across the country to enable the business owners create and improve professionalism in the way they structure and run their businesses.

Muturi said the financial literacy training has so far been conducted in Machakos and Eldoret and would subsequently take place in 11 other counties.

He said the loans to SMEs were being offered at a subsidised interest rate of 17.5 per cent with same day approval for the length of the campaign.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...