Banks bet on business clubs to boost SME lending

Absa Bank Kenya Head of SME Banking Erastus Muthura (left) with stakeholders during a Kisumu Business Club engagement forum. 

Photo credit: File

Top commercial banks are turning to business clubs to boost their lending to small and medium-sized enterprises (SMEs) through customised loan products, training and flexible banking hours.

Many top lenders are now splurging millions of shillings on SMEs to offer financial and non-financial benefits such as priority banking, higher debit card withdrawals, extended banking hours and business advisory services.

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