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Enterprise

Credit Bank’s Entrepreneurs Hub gives SMEs shot in the arm

 Betty Korir
Credit Bank Chief Executive Officer Betty Korir. FILE PHOTO | NMG 

Credit Bank is seeking to train more startup owners on how to navigate the tough world of entrepreneurship.

Through a programme dubbed Entrepreneurs Hub (Ehub), the lender is reaching out to hundreds of Small and Medium Enterprises (SMEs) to build their competitiveness in the market.

The bank is training SMEs in key areas such as marketing, monitoring of cash flows and turnovers and human resource to sharpen their competitive edge in the otherwise flooded market.

The bank says it is keen on helping SMEs to achieve their growth and make them remain sustainable in their operations.

“We are very excited about our Ehub. Many people argue that the number one challenge facing SMEs is capital but for us we go beyond that,” said Pam Mutembei, Credit Bank head of business.

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“We have realised that SMEs require training in key areas and what EHub does is to train the SMEs on such issues and then finance their businesses.”’

The Entrepreneurs Hub brings together captains of industries, who are key in SMEs mentorship engagements. “The main intention is to fill the gap that exists for entrepreneurs today. Thus, Credit Bank comes in to bring together subject matter experts and experienced business leaders for all to learn,” she said.

The Entrepreneurs Hub plans to invite some of the most successful entrepreneurs and business moguls in the country to share with beginner entrepreneurs their experiences and successes. It will also promote young entrepreneurs by bringing small business owners to come and showcase how they have used some of the things they have learnt.

The bank is also partnering with Pan African organisations such as African Guarantee Fund (AGF) to de-risk SMEs through guarantees.

“The support from AGF allows the bank to offer an unsecured portfolio ranging from 53 to 75 percent. For us we are also keen on the financial education of the entrepreneurs we loan,” said Betty Korir, CEO Credit Bank.

She said they facilitate capacity building among the businesses helping them develop more resilience and professional day to day running of their businesses.

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