Small and medium enterprises (SMEs) are currently grappling with the downturn in the economy following a significant drop in purchasing power among the populace.
However, Absa Bank has been engaged in a series of consultations focused on networking and engaging SMEs with industry leaders to enable them to thrive and grow.
Absa’s week-long consultation with SMEs in the western region concluded on November 10 in Kisumu, in which the bank held sessions in Bungoma, Busia, Kericho, Kisii, Migori, Homabay and Kisumu to empower SMEs in the region.
Absa Bank Kenya Head of Small and Medium Enterprise, Erastus Muthura, highlighted the bank’s commitment to supporting SMEs, including women, youth and persons with disabilities (PWDs)-led SMEs.
In a move that could be picked by other multinational and local banks, Mr Muthura said that Absa is out to support their clients with financial and non-financial skills to scale their businesses. These include; access to sustainable finance, information, markets and coaching and mentorship.
“We ensure that we provide platforms through which we can interact like this one convened by the Business Club. As a Bank, we are present in 12 countries across Africa and are encouraging our customers to take advantage of the opportunity provided by the different markets in the continent,” said Mr Muthura.
Israel Agina, the Kisumu Chapter Chairman of the Kenya National Chamber of Commerce and Industry, said that SMEs play an important role in our communities and are important for the sustenance of our supply chains. “We are grateful to Absa for their support today as we discuss issues of resilience and for supporting SMEs during the tough economic times,” said Mr Agina.
Absa Bank Kenya, through its Business Club, has been empowering entrepreneurs in the country, equipping them with the necessary skills to thrive in the volatile business environment.
The bank has hosted similar forums in Nakuru County, Mombasa County, and Nyeri County and is set to hold similar business forums in the Rift Valley region in the coming week.
Absa Bank Kenya Plc, a part of Pan-African leading lender Absa Group, is listed on the Nairobi Securities Exchange and has a rich history in Kenya spanning over 107 years. The Bank is one of Kenya’s largest financial services institutions, providing personal, business, and institutional banking, bancassurance, FX, wealth and investment, and advisory solutions.
The Bank has a regional and global footprint, allowing it to provide end-to-end financial services, and has been associated with several market firsts, including the launch of the first ATM, WhatsApp banking, Sharia-compliant banking, and unsecured lending.
Absa Bank Kenya has a presence in 38 counties, with 85 branches and 208 ATMs, supported by robust Internet and Mobile Banking platforms. The Bank’s purpose is to empower Africa’s tomorrow.
