STANBIC BANK PARTNERS WITH MINISTRY OF INDUSTRIALIZATION TO SUPPORT SMEs.

16, September 2020

Small and medium-sized enterprises make over 90% of business in Kenya and 30% of employment in Kenya, this according to Betty Maina – Cabinet Secretary in the ministry of Industrialization, trade, and enterprise development.

 

Over the last few months, SMEs have borne the brunt of curfews, lockdowns, and interrupted supply chains and revenues, Stanbic bank through a partnership with the Ministry of Industrialization have donated 210 hand washing stations to be distributed to the jua kali workers in Kariobangi South, Nairobi, and other regions in the country.

 

In addition to the hand washing stations, the bank pledged to have a longer and more impactful partnership with the ministry to promote, train and provide access to funds to enable small businesses to sustain themselves and grow.

 

Speaking during the event, Stanbic Bank C.E.O Charles Mudiwa said that the pandemic did shut down supply chains and the country has had to be self-sufficient – producing some products locally and Stanbic bank will provide knowledge and create markets for the SMEs.

 

The CS later appreciated the contributions from Stanbic and welcomed the idea of a long term collaboration and she applauded Kenyans who were following guidelines set out by the ministry of health to combat covid 19 and advised against letting our guard down at this time.

 

Hitherto to this event, Stanbic bank together with DADA and Stanbic bank foundation in collaboration with Rotary, had distributed over 700 handwashing stations throughout the country and spent over 147 million shillings in the fight against covid -19.