StanChart eyes SMEs loans with Asia tour


Mr David Idoru, the head of retail banking. FILE PHOTO | NMG

Small and medium enterprise Standard Chartered #ticker:SCBK customers will benefit from a 10-day tour of Malaysia, Singapore and Thailand that will increase their entrepreneurship and financial education skills.

The team of 11, drawn from IT, Real Estate, Agriculture, Manufacturing, Construction, Transport, Education and Tourism sectors will participate in interactive business advisory forums, besides being linked to the Asian Trade Corridor that will open their businesses to bigger opportunities.

Most SMEs shut down before their third year of existence due to financial strains and skills gaps.

The tour is sponsored by StanChart in partnership with Kenya Association of Manufacturers (KAM), Kenya Investment Authority (KenInvest) and Strathmore Business School.

The tour is part of the Business Banking Recognition Programme that targets SMEs with a minimum annual turnover of Sh10 million and have been in business for at least three years.

“We selected clients from the SME segment. This is well aligned to the Big Four Agenda by the Government to boost manufacturing, universal healthcare, affordable housing and food security,” said StanChart head of Retail Banking David Idoru in a statement.