National Bank Kenya (NBK) is looking into tapping on to SMEs to grow its loan portfolio.
The SMEs make up 30 per cent of the lender’s customers.
Dubbed 'National Business Forum on leadership', it is set to kick off its mission by collaborating with 100 businesses across various sectors with a long-term goal of sustainability.
It majorly seeks to empower local entrepreneurs by supporting them to grow their businesses in a sustainable way.
The entrepreneurs will be reached out through virtual webinars and in-person forums every after three months.
Investors in the sectors of renewable energy, water, education, agribusiness, agriculture, healthcare, technology, and women in Business are set to be the priority in this new programme.
The Lender has partnered with The Leadership Group and Ashitiva LLP and aims to access a network of experienced business leaders.
Through the partnership, NBK has said it will give access to financing and financial advisory services.
An estimated amount of billion shillings is expected to be put into the initiative as it moves to the local investors.
Ashitiva LLP promised that it will extend access to business and legal advisory services.
The Leadership Group on the other hand looks forward to providing training and development for the SMEs aiming at addressing the hurdles that inhibit businesses from operating optimally and transitioning to higher levels sustainably.
NBK managing director George Odhiambo emphasized that the bank has embraced an unwavering commitment to supporting SMEs and nurturing the entrepreneurial spirit in Kenya.
“In this regard, the launch of the National Business Forum is a significant step towards achieving this goal and driving economic growth and development in Kenya,” said Odhiambo.
“We understand the unique challenges Kenyan entrepreneurs face in securing financing and expanding their businesses. Our goal is to offer the support required to overcome these obstacles, enabling them to realise their full potential," he added.
The Forum has also embraced a Leadership and Business Acumen Development Model that aims to equip SMEs with essential resources to become resilient.
These include mentorship, capacity building, leadership and growth for entrepreneurs, all designed to foster sustainable growth and enable them to scale their businesses tenfold within the next five years.
“We've collaborated closely with our partners to co-create the National Business Forum,' a dynamic platform tailored for ambitious entrepreneurs,” Odhiambo said.
He added that they are optimistic about attracting like-minded development partners who share in their vision of supporting businesses through capacity building, funding, and strategic deal structuring.