Micro, Small, and Medium Enterprises (MSMEs) are set for improved transactional efficiency and expense tracking following the launch of a card that supports this.
This is after Absa Bank Kenya together with digital payments provider, Visa have customised the Absa Business Credit Card to address unique business needs.
The Absa Business Credit Card offers businesses the ability to optimize their cash flow with flexible interest-free credit options of between 20 to 50 days on payables.
The card comes with 24/7 global emergency support and a variety of tools to better manage their business.
The Absa Business Credit Card also offers a full suite of benefits and privileges, putting businesses in complete control. This includes digital card management capabilities with enhanced reporting dashboards; and access to more than 40 business providers, like Google Workspace, Shopify, and DocuSign, to help customers save money as they digitally transform their business.
Absa Bank Kenya Business Banking Director, Elizabeth Wasunna-Ochwa, said: “As our business customers’ requirements and aspirations evolve, so have our offerings. In partnership with Visa, we are thrilled to be one of the pioneering financial institutions on the continent to launch the new Absa Business Credit Card that is designed for our Business and Corporate customers.”
“Our customers have clear expectations and are looking for a distinguished and rewarding experience that caters to their unique business needs and preferences. The Absa Credit Card promise to deliver this and more.”
Beyond working capital, the Absa Business Credit Card caters to a wide range of SME payment needs such as travel and office expenses, fleet expense management, trade payments for distributors and retailers, as well as software and application purchases, particularly beneficial for tech entrepreneurs looking to scale their ventures.
Micro, Small and Medium Enterprises Development Principal Secretary, Susan Mang’eni, said: “For years, MSMEs have dealt with challenges that include limited access to affordable, flexible and secure financing. They need solutions that unlock their potential and enable them to compete globally.”
The Absa Business Credit Card also enables seamless cross-border payments, supporting trade remittances and international supplier transactions.
Visa Kenya Country Manager John Njoroge, said: “At Visa, we are committed to empowering businesses of all sizes through secure, innovative, and inclusive payment solutions. Our partnership with Absa Bank on the Business Credit Card is a testament to this commitment. We believe this solution will unlock new opportunities for MSMEs by enhancing their ability to manage expenses, access working capital, and grow sustainably in today’s digital economy.”