Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
The MoU is expected to boost economic inclusion, empowerment of women, youth and persons with disabilities owned SME's as well as enhancing procurement opportunities for these special groups in Kenya/FILE

Kenya

KNCCI, Gulf African Bank pact to boost economic inclusion

The MoU is expected to boost economic inclusion, empowerment of women, youth and persons with disabilities owned SME’s as well as enhancing procurement opportunities for these special groups in Kenya/FILE

NAIROBI, Kenya, Mar 23 – Gulf African Bank has signed a Memorandum of Understanding with Kenya National Chamber of Commerce and Industry.

The MoU is expected to boost economic inclusion, empowerment of women, youth and persons with disabilities owned SME’s as well as enhancing procurement opportunities for these special groups in Kenya.

As such, Gulf African Bank will offer unsecured LPO financing of up to Sh20 million for those with prior performance history and up to Sh3 million unsecured LPO business for starters registered under the KNCCI banner.

The partnership will serve to improve reach for the two institutions from membership database across various sectors including but not limited General Trade & Commodities, Telecommunication, Health and Agribusiness among others.

“The SME sector is a key focus area for us as a bank. As such, we look for like-minded partners like KNCCI with a core mandate of growing businesses; seeking to uplift special groups economically by linking them to economic resources, and offer training opportunities to bridge skill gaps to businesses in the broader SME sector,” said Abdalla Abdulkhalik, Managing Director Gulf African Bank.

Kiprono Kittony, Chairman KNCCI Kenya lauded the partnership, observing that it will be critical to growing the SME sector in Kenya.

“Training is critical in instilling financial prudence amongst Youth, Women and PWD owned SME’s. This partnership will provide them with the critical training, access to financing and business opportunities to help them grow their enterprises”.

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...

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...

Headlines

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

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...