KCB, KNCCI partner to accelerate credit flow to businesses

KCB, KNCCI partner to accelerate credit flow to businesses

NAIROBI, Kenya, Sep 10 -Kenya Commercial Bank (KCB) has partnered with the Kenya National Chamber of Commerce and Industries (KNCCI) Mombasa Chapter to accelerate the provision of credit to enterprises.

The new partnership will see that the micro, small, and medium-sized enterprises (MSMEs) enjoy financial and non-financial solutions to help the business recover from the economic downturn driven by the fallout from the Covid-19 pandemic.

KCB Bank Acting Director of Retail Banking Michael Kungu said the partnership will enable MSMEs greater access to much-needed financing, helping them to improve their livelihoods while contributing to the country’s recovery from the pandemic.

“We are excited about this partnership with the Mombasa Chapter, it enables us to open a path for more credit to the Small and Medium-Sized entrepreneurs,” said Kungu.

Beyond the credit line, members of the KNCCI Mombasa chapter will receive non-financial solutions including advisory, networking opportunities, training, and favorable loan terms.

The three-year partnership targets MSMEs in various sectors including hospitality and tourism, retail, trade, manufacturing including businesses that aren’t currently banking with KCB Bank.

KNCCI Mombasa Chapter Chief Executive Officer (CEO) James Kitavi, expressed optimism in the partnership in dealing with a bank that has a solid history for MSME support and empowerment.

The Bank has also signed similar partnerships with other Chapters of the KNCCI including Busia, Tana River, Central and Eastern Kenya Chapters.

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