KCB, KNCCI partner to support micro, small, and medium enterprises
The Kenya Commercial Bank (KCB), KCB Foundation, and Kenya National Chamber of Commerce and Industry (KNCCI) have entered into a memorandum of understanding to offer tripartite support to Micro, Small, and Medium Enterprises (MSMEs) and corporates in the country.
Through the partnership, MSMEs will access financial services from KCB bank, undergo capacity building and mentorship through KCB Foundation programs, and showcase their work at targeted MSMES trade fairs and expos organized at the National and County level.
In terms of financial services, KCB will offer their products, Payment and Forex solutions, Free Account maintenance for amounts above USD 1,000 for KNCCI members, and Free cash deposits to foreign currency accounts up to US$10,000 for KNCCI members.
In terms of non-financial benefits, KCB Foundation will provide MSMEs with education on business finance, training, and partnership through 2jiajiri, Mifugo ni Mali & Agribusiness programmes, Business Incubation & Business Development Services, & Monitoring & Evaluation services.
The KNCCI president Richard Ngatia said the chamber of commerce is initiating a program of bringing on board players from the private sector to offer financing to trade initiatives in the country to spur Kenya’s economy.
“I thank KCB management who have always offered solutions to business people. This arrangement is what businesses in Kenya need to thrive. We need to embrace it,” he said.
The partnership takes effect immediately.
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