Jamii Bora bank has launched a branch in Mtwapa as it seeks to grow its market share and deepen its financial services.
The bank chairman, James Gacheru, said the Mtwapa branch will increase the bank’s network and tap into the business potential of the coastal town.
Mr Gacheru said Jamii Bora ’s entry into Mtwapa came at a time when the population was demanding a difference in banking.
“Mtwapa is on the brink of an economic transformation as the country adopts the system of devolved government,” he said.
While addressing stakeholders and the business community from Kilifi and Mombasa counties, the chairman said the bank will give consumers convenience, accessibility and financial services in tandem with their needs.
Kilifi County Governor Amason Kingi while gracing the launch welcomed the move and thanked the bank board for choosing to set up a branch in Kilifi County.
Mr Kingi said that Kilifi County’s economic and financial sector was not well developed. Residents in towns mainly use commercial banks but those in rural areas have shied away from banks.
“Having a branch in my county is an honour and also a score of confidence. The kind of product and its tailoring will either attract or repel clients. We should give Kenyans products that can help cushion them from financial constraints,” Mr Kingi said.
He said the bank will contribute towards growing the county’s economy, adding that residents should take loans from the bank, women and youth funds to grow their businesses.
Mtwapa residents are set to benefit from Jamii Bora products such as the ‘Kinga Salo’, an insurance cover which guarantee salary income for a specified period in the event of death, permanent disability and retrenchment.
Jamii Bora Bank partnered with CIC Life Assurance to launch the product which is accessible to residents of Kilifi, Nairobi, Muranga, Kiambu, Kajiado and Mombasa where the bank has branches.