By Silas Chogo
SBM Bank Kenya has launched three SME business hubs to deepen financial and non-financial advisory support to SMEs in Kenya.
The hubs are designed to create a balanced ecosystem for business owners to operate a dedicated working space for the Bank to hold business clinics and capacity building forums with SMEs.
According to SBM, the hubs will be located in Nairobi’s Central Business District, Kilimani area and Karen.
“The hubs will be a transformational platform for small and medium-sized business and we highly encourage our SME customers to take advantage of this opportunity to receive the financial advice, tools and resources they need to scale up their businesses” said SBM Bank Kenya Board Chair Shakilla Jhungeer.
According to Jhungeer, the hubs will double up as exclusive walk-in workspaces where SBM Bank’s SME clients can host meetings with their clientele and business partners.
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The move mirrors SBM’s long-term strategy which looks at empowering Kenyans SMEs with tailored financial solutions.
The Bank has been working hand-in-hand with the SMEs and entrepreneurs to scale their businesses.
“As part of our continued SME-focused initiatives, SBM Bank will continue to expand the reach of the business hubs to ensure more entrepreneurs benefit from financial and capacity building support.”
The business hubs come after the lender rolled out the Jijenge Biashara solution which is designed to support SMEs by providing them with twice their savings in loans.
The savings earn interest to the financial resource and strength to invest in the business for the short and long term.
The bank has a $10 million risk-sharing agreement with African Guarantee Fund that allows more financing provision to SMEs, particularly women-led enterprises.
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