Absa Bank Kenya has launched some value proposition products to SMEs as part of its rebranding, meant to ensure customers do not get confused with their new trading name and get new customers.
“Through Wezesha Biashara Loans & Trade Finance, we are offering unsecured business loans of up to sh10 million as well as LPO Financing for up to sh12 million to our SME customers.”- Jeremy Awori, MD Absa Bank Kenya.
The Wezesha SME proposition to include unsecured loans of up to sh10 million, LPO financing and invoice discounting of up to sh50 million are meant to offer value to customers.
It’s mortgage offering now includes, 100 per cent financing, offering the lowest interest rate in the market at 11.75 per cent, and a waiver on all legal fees for customers transferring their mortgages to Absa. A savings feature on Timiza with returns of up to 5 per cent Interest.
Absa Bank Kenya PLC Managing Director Jeremy Awori, noted that the organisation has a solid strategy in place which is designed to deliver growth for the business by growing with its customers. He continued to say, “As I look into the future, I am filled with excitement and optimism. We will continue to execute this strategy in order to deliver great returns for our shareholders and play our rightful role in the Kenyan economy.”
He added that they took to heart the feedback from customers across all segments and have redefined most of their existing propositions and developed new products that will drive mutual growth.
Key activities of the rebranding were in Mombasa for historical reasons. “Mombasa is our home. Our first branch in Kenya was along Nkurumah road back in 1916. We have since expanded in the coastal region to have 10 branches and we continue to pursue expansion opportunities in the region given its huge potential,” said Jeremy Awori.
As part of the activities from the launch, Absa Bank Kenya staff will be touring key trade centres around the country speaking to SMEs on their challenges and how we can partner with them for mutual growth