National Bank of Kenya hosted a business seminar for over 100 entrepreneurs and Small & Medium Sized Enterprises at Machakos Golf Club to empower them.
Dubbed ‘Taking your business to the next horizon’, the business seminar is part of a series of countrywide seminars hosted by the Bank through its National Bank Business Club.
The entrepreneurial sector in the country has been going through a myriad of challenges including inadequate access to funding.
Most entrepreneurs in Kenya are in the SME sector. Each year, at least 400,000 SMEs close down their businesses due to the hard environment of doing business.
Banks have always been blamed of turning a blind eye to the plight of entrepreneurs but National Bank seems to be changing the narrative.
Speaking at the seminar, the National Bank Managing Director and CEO, Mr. Wilfred Musau said that Business Club addresses specific needs identified from customers.
“Through the club, the bank has created a platform for growth by offering business solutions and advisory services to the entrepreneurs and supporting them to grow with the Bank. It offers a channel for interacting, networking and providing experiential opportunities to our SME customers as they seek to expand their horizons,” he said.
In 2018 the Bank held similar seminars in Nairobi, Kisumu, Nyeri, Eldoret, Narok, Mombasa, and Nakuru. There are plans to extend the seminars to more interior regions this year.
“Small and medium enterprises are great engines of growth for any economy. As National Bank we pride ourselves in having a rich heritage of not only being present countrywide, but also offering affordable and accessible financial and non-financial services to all with products tailor-made to fulfill the micro market appetite whilst offering convenient business banking solution. Through this we believe we have fulfilled our mandate even as we celebrate our 50 the anniversary,” MrMusau said.
SMEs are the backbone of Kenya’s economy. Employing 86 percent of the population and contributing to more than 45 percent to the GDP, it cannot be ignored.