National Bank targets growth-hungry SMEs with new unit
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.