KCB bank feted for efforts in SME financing

KCB Bank has received triple awards in recognition for its efforts in supporting SMEs, Community Development, and creating investment and savings opportunities in the country.

The awards; Best SME Bank by Global Finance Magazine, Best Investment Bank and Best Bank in CSR in East Africa by Global Business Magazine highlight the Bank’s focus to drive social transformation through the key pillars of financial inclusion, innovation and technology.

KCB Group CEO Paul Russo said the awards reflect the dedication they have as a business in catalyzing shared growth and prosperity in society. He said that they seek to build on this milestone to further buttress their offering by supporting key sectors of the economy for sustainable growth.

KCB has placed the SME sector at the heart of its operations and in November 2021, the bank rolled out an SME programme dubbed Partner Kwa Ground to enable enterprises to access loan facilities to boost their working capital post-pandemic. A total of Ksh89 billion was advanced for SMEs in 2021 to help with the recovery and development agenda.

On his part, Joseph Giarraputo, Founder and Editorial Director of Global Finance said, “Small enterprises are the lifeblood of economies everywhere, yet encompass a wide array of businesses, each with needs specific to their industry, sector and geography. By identifying financial partners that focus on this segment and deliver for local clients on the ground, country by country as well as more expansively, Global Finance provides a unique service to savvy entrepreneurs seeking the next level of financial needs.”

The awards come at a time when the Bank continues to enhance its play in these key business segments. In the Corporate Social Responsibility scene, KCB’s education scholarship has seen 320 needy students across the country sponsored through their high school education and 49 students sponsored for university education.

Further, under 2Jiajiri, a skilling and upskilling programme that targets youth across the country, 1,235 youth have been trained in a move that will engineer self-employment and promote independence.

Global Business Magazine is a dedicated financial magazine based in Dubai that appreciates leading financial institutions in the world for their efforts in growing the economy as well as supporting the communities.

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