SBM Bank Kenya has sealed a strategic partnership with DHL Worldwide Express Kenya to boost trade by enabling small and medium-sized enterprises (SMEs) to access global markets.
Undewr the collaboration, over 400 SMEs will be empowered to navigate the complexities of exports and e-commerce, thereby expanding their market reach and operational capabilities.
In Kenya, SMEs face a myriad of obstacles while attempting to access international markets. Data shows that only 20% of SMEs in Kenya participate in export ventures, due to insufficient market information, regulatory hurdles, and restricted access to logistics networks.
Additionally, with the swift expansion of e-commerce, numerous SMEs find it challenging to adapt to evolving trends and consumer behaviour.
SBM Bank Kenya, CEO, Bhartesh Shah, said: “By offering SMEs valuable insights and practical training in exports and e-commerce, we are creating new opportunities for their growth and success. This partnership emphasizes our dedication to promoting economic development and sustainability in Kenya.”
The training program will offer SMEs critical insights into e-commerce, emerging trends, top e-commerce markets, key trends in consumer behavior, unique propositions, network capabilities in Africa, and account management.
Post-training, DHL will assist SMEs in marketing their products and identifying suitable platforms for export, providing a comprehensive support system to facilitate successful entry into international markets.
DHL Express Kenya, Managing Director, Paul Makolosi, said: “In the aftermath of the coronavirus pandemic, we have observed significant changes in the methods businesses use to connect with their customers and address their needs. It is essential for SMEs to acknowledge the power and importance of global e-commerce, as emerging buying habits and behaviors are driving growth in an already rapidly expanding marketplace.
“For SMEs to navigate the current economic challenges successfully, it is crucial to adopt bold strategies, which should include a comprehensive e-commerce plan with a strong focus on cross-border transactions.”
In a similar drive, SBM Bank Kenya had previously partnered with the African Guarantee Fund in a risk-sharing deal to increase access to credit for women-led businesses through the AGF’s Affirmative Finance Action for Women in Africa (AFAWA) and Guarantee for Growth (G4G) program.
Additionally, SBM Bank offers other capacity-building programs targeting women in the SME space, including partnerships with AWEP, WICCI, and Tactive Consulting, and hosts an annual pop-up market to expand market access for SMEs.
