KISUMU, Kenya March 5-Stanbic Bank Kenya has partnered with Kisumu County Government to offer financial support to Small Medium Enterprises (SMEs) to bring back business that suffered during the Covid-19 pandemic.
The Bank’s Chief Executive Officer Charles Mudiwa says Kisumu is the 7th county which the Bank is entering into in a partnership to uplift small business.
Already, the Bank has signed similar partnerships with the counties of Nairobi, Nakuru, Meru, Mombasa, Kiambu and Laikipia.
Mudiwa says many businesses suffered a great loss as the pandemic ravages the world, taking a toll on small businesses.
“We are offering them funding, which is at 2 per cent interest to allow them to get back to their businesses,” he said.
The funding is part of the Bank’s new unit, Stanbic Kenya Foundation, which aims to uplift the lives of Kenyans.
Mudiwa says the Foundation has achieved significant milestones along the way and has made a mark in education, job creation and enterprise development, through the launch of the Accelerate Program that positions the country’s businesses for success.
Speaking in Kisumu during the launch of the Bank’s new office and signing of the partnership, Mudiwa says he is optimistic that small businesses will grow.
He challenged Kisumu people who are doing business to take advantage of the offer to empower themselves and in turn drive Kenya’s socio-economic growth.
“All these traders selling along the streets into the markets can all apply for this fund,” he said.
Kisumu Governor Anyang Nyong’ who witnessed the signing ceremony noted that his county is open to collaborations with strategic partners who can contribute to turning the county into an economic hub.
“I believe that this partnership with Stanbic will help my administration unlock our full potential by investing in SMEs and individuals,” he said.
