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Gulf Bank, KNCCI sign deal to support women, youth

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From left: KNCCI Chairman Kiprono Kittony, Gulf African Bank (GAB) managing director Mr Abdalla Abdulkhalik and KNCCI CEO Angela Ndambuki during the signing of the deal on March 22. PHOTO | DIANA NGILA

Gulf African Bank has partnered with the Kenya National Chamber of Commerce and Industry (KNCCI) to train managers of women, youth and disabled people’s companies eyeing county and national government tenders.

GAB’s managing director Abdalla Abdulkhalik said the programme aims to increase the number of groups benefiting from county and national government contracts and ultimately increase opportunities for low income earners.

Mr Abdulkhalik said the MOU will also enable KNCCI to lobby Council of Governors (COG) and the national government to pay promptly for payments to ensure the groups grow businesses.

“Any delay in payments eats into company profits and this is bad for business. We want all groups regardless of their location in Kenya to be included in the economic till thereby uplifting livelihoods across Kenya,” he said.

READ: Nairobi signs deal to improve informal markets and SMEs

KNCCI chairman Kiprono Kittony said closer working partnerships with local banks will boost the SME sector and help them break into bigger contracts.

“We want SMEs to manage bigger contracts upon repayment of loans received to fund purchase and delivery of various products to government agencies,” he said.

KNCCI will in April meet with the governors lobby to deliberate on issues causing delayed payments.

Mr Kittony said they have also reached the national government with the message of fast-tracking release of budgetary allocations to county governments, saying this had been identified as a major hindrance to smooth running of businesses owned by the three special groups.