Nairobi, Kenya – SBM Bank Kenya has launched three SME business hubs in Nairobi’s Central Business District (CBD), Kilimani, and Karen. This initiative is part of the bank’s broader strategy to provide financial and non-financial support to small and medium-sized enterprises (SMEs), reinforcing their role as key drivers of economic growth.
Supporting SMEs with Dedicated Business Hubs
The newly launched hubs are designed to create an enabling environment for entrepreneurs by offering dedicated workspaces where SMEs can access business advisory services, financial management training, and capacity-building forums. These hubs will serve as platforms for business clinics, networking opportunities, and financial advisory sessions aimed at helping entrepreneurs scale their businesses.
At the official launch event, SBM Bank Kenya Board Chair Shakilla Jhungeer emphasized the bank’s commitment to empowering SMEs. “SMEs are the backbone of our economy, driving job creation and wealth generation. These business hubs reaffirm our dedication to providing financial advice, tools, and resources to help SMEs grow. We encourage our SME customers to take full advantage of these opportunities,” she stated.
Beyond advisory services, the hubs will function as exclusive co-working spaces for SBM Bank’s SME clients. Entrepreneurs can hold meetings with clients and business partners in a professional setting, improving their operational efficiency and market reach.
Long-Term Strategy for SME Growth
The launch of these hubs aligns with SBM Bank’s long-term vision of supporting SMEs by offering tailored financial solutions and direct engagement with entrepreneurs to foster business growth. The bank plans to expand the hubs’ reach, ensuring more SMEs benefit from financial assistance and business development resources.
“As part of our SME-focused initiatives, SBM Bank will continue to introduce more business hubs across the country to enhance access to financial and capacity-building support,” added Ms. Jhungeer.
Jijenge Biashara Solution – Unlocking SME Funding
To further support SMEs, SBM Bank recently introduced the Jijenge Biashara solution, a financing product that provides entrepreneurs with loans amounting to twice their savings. This initiative enables SMEs to secure both short-term and long-term investments while earning interest on their savings, thus promoting business sustainability and growth.
Expanding Financial Inclusion with a $10 Million Guarantee Fund
In a move to expand access to financing, SBM Bank has also entered into a $10 million risk-sharing agreement with the African Guarantee Fund (AGF). This partnership aims to de-risk lending for SMEs, particularly women-led enterprises, by increasing financing opportunities and providing crucial capacity-building support in areas such as financial management and marketing.
What This Means for Kenyan Entrepreneurs
The introduction of these SME business hubs and financial solutions will provide business owners with:
- Dedicated workspaces for operations and professional meetings.
- Business advisory services, including financial management and marketing guidance.
- Access to funding opportunities, such as the Jijenge Biashara loan and risk-sharing agreements.
- Capacity-building forums to strengthen business operations and strategy.
As part of its growth strategy, SBM Bank Kenya intends to expand its SME business hubs beyond Nairobi, ensuring that a wider entrepreneurial community can benefit from these essential financial and networking services.
For more updates on SME growth initiatives, visit Daljoog News.
