NAIROBI, Kenya, Sep 10-Kenya Commercial Bank (KCB) has partnered with the Mombasa branch of the Kenya National Chamber of Commerce and Industry (KNCCI) to accelerate lending to businesses.
The new partnership will allow micro, small and medium-sized enterprises (MSMEs) to benefit from financial and non-financial solutions to help the company recover from the economic downturn caused by the fallout from the Covid-19 pandemic.
Michael Kungu, acting director of retail banking at KCB Bank, said the partnership will enable MSMEs to have better access to much-needed finance, helping them improve their livelihoods while contributing to the recovery of the country after the pandemic.
“We are delighted with this partnership with the Mombasa chapter, it allows us to pave the way for more credit for small and medium enterprises,” Kungu said.
Beyond the line of credit, members of the KNCCI Mombasa chapter will receive non-financial solutions, including advice, networking opportunities, training and favorable loan terms.
The three-year partnership targets MSMEs in a variety of sectors including hospitality and tourism, retail, commerce, manufacturing, including companies not currently doing business with KCB Bank.
KNCCI Mombasa Chapter Director General (CEO) James Kitavi expressed optimism in partnering with a bank that has a strong history of supporting and empowering MSMEs.
The Bank has also signed similar partnerships with other sections of KNCCI, including the sections of Busia, Tana River, Central and Eastern Kenya.