Na­tional Bank tar­gets growth-hun­gry SMEs with new unit

The Star (Kenya) - - News -

State-owned Na­tional Bank of Kenya has launched a small and medium-sized unit in line with the 42- lender in­dus­try’s pledge for a cu­mu­la­tive kitty in the up­wards of Sh2 billion for the dom­i­nant sec­tor. “We want to in­still con­fi­dence in small en­ter­prises who, with proper ac­cess to fi­nan­cial ser­vices, can boost job cre­ation, in­crease house­holds’ in­come and in­crease in­vest­ments in hu­man cap­i­tal,” said newly ap­pointed chief ex­ec­u­tive Wil­fred Musau at the Small En­ter­pris­ing launch in Nairobi yes­ter­day. He said the unit will tar­get both the per­sonal busi­nesses and in­vest­ment groups in the re­tail con­ven­tional and Is­lamic busi­ness seg­ments. “We are look­ing at a mas­sive and ag­gres­sive ac­count open­ing cam­paign for our small en­ter­prise bank­ing seg­ment, while at the same time be­com­ing the go-to bank for the un­banked and low-end cus­tomers who are the back­bone of our econ­omy,” Musau said. The prod­ucts be­ing of­fered un­der SME bank­ing unit are: Jenga Chama, Jenga Kil­imo and Jenga Bi­ashara Plus loan ac­counts, to fast-track its small en­ter­prise bank­ing out­reach cam­paign.

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