SBM Bank Kenya has unveiled three SME business hubs to deepen financial and non-financial advisory support to SMEs across Kenya.
The three SME business hubs are located in Nairobi’s Central Business District, Kilimani and Karen. They will create a balanced ecosystem for business owners to operate in through providing dedicated working spaces for the Bank to hold business clinics and capacity building forums with SMEs.
SBM Bank Kenya Board Chair Shakilla Jhungeer said: “The [business] hubs will be a transformational platform for small and medium-sized business and we highly encourage our SME customers to take advantage of this opportunity to receive the financial advice, tools and resources they need to scale up their businesses.”
The business hubs will also double up as exclusive walk-in workspaces where SBM Bank’s SME clients can host meetings with their clientele and business partners.
“As part of our continued SME-focused initiatives, SBM Bank will continue to expand the reach of the business hubs to ensure more entrepreneurs benefit from financial and capacity building support,” says Jhungeer.
The business hubs project comes soon after SBM Bank rolled out the Jijenge Biashara solution which is designed to support SMEs by providing them with twice their savings amount in loans.
Additionally, the savings earn interest and this provides the financial resource and strength to invest in the business for the short and long term.
The bank also has a USD 10 million risk-sharing agreement with African Guarantee Fund that allows the Bank to provide more financing to SMEs, particularly women-led enterprises, by de-risking lending and building capacity in areas such as financial management and marketing.
